Jul 23, 2012 - German photovoltaic (PV) group Solarworld (ETR:SWV) said today it had completed the renegotiation of existing loans worth EUR 375 million (USD 453.9m).
The renegotiation of the loans was necessary in the light of the challenging situation on the solar markets in the second quarter of 2012 and the resulting risks for Solarworld's financial targets.
According to the company's statement, Solarworld has secured more financial flexibility.
The company's liquid funds at the end of the second quarter amounted to EUR 320 million.
(EUR 1.0 = USD 1.210)
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