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SOLON SE successfully concludes refinancing

(PresseBox) (Berlin, ) Berlinbased SOLON SE announced the successful conclusion of the reorganization of its Group financing. The syndicated loan now concluded under the lead management of Deutsche Bank AG and extending until yearend 2011 includes commitments for cash credit facilities and facilities by way of bank guarantees totaling €275 million. It is partially backed by a default guarantee from the German federal government and the federal states of Berlin and Mecklenburg-Vorpommern. In addition to Deutsche Bank AG as lead manager, seven additional German banks are participants in the financing. "The complete financing now achieved is an expression of the confidence of the banks and guarantors in our Company's potential and forms the basis for the targeted return to profitable growth. We would especially like to express our gratitude to Deutsche Bank AG who has made a substantial contribution to the successful conclusion of this round of financing," said Stefan Säuberlich, CEO of SOLON SE.


SOLON SE is one of the largest manufacturers of solar modules in Europe as well as a supplier of solar system technology for largescale rooftop and greenfield installations. The SOLON Group has subsidiaries in Germany, Austria, Italy, Switzerland, and the U.S. and employs some 900 people worldwide. SOLON's core business is producing solar modules and photovoltaic systems along with planning and constructing large rooftop installations and turnkey solar power plants all over the world.

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