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Q-Cells agrees debt-equity deal with bondholders
By
Editorial
Thu Feb 2 2012, 09:38 AM
German solar cell maker Q-Cells has agreed a debt-equity swap deal with bondholders that will help it to stave off potential bankruptcy for at least one more year. Under the deal, 2012, 2014 and 2015 bondholders will be given a 95% equity stake in Q-Cells, with 2012 bondholders also receiving a EUR20m (USD26.4m) cash payment. The deal remains subject to approval from bondholders, shareholders and other involved authorities.
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