REC SILICON ASA REC Silicon ASA (REC Silicon) through its subsidiary REC Silicon Inc, has entered into a loan agreement for a USD 100 million term loan from KEB Hana Bank for the purpose of supporting capital needs of the company. The term loan is part of the overall financing plan for the company's ongoing restart of the Moses Lake FBR facility. The term loan is also fully guaranteed by REC Silicon's largest shareholder Hanwha Solutions, contributing to favorable terms similar to the other recent debt financings.
REC Silicon is in discussions toward a potential smaller bank financing on similar terms that may be necessary in the next few months so that funds are in place in advance of any capital needs.
