Suresnes, February 7 th 2019: Recylex S.A. (Euronext Paris: FR0000120388 - RX) announces today that the financial partners of its German sub-group’s have agreed, on the basis of the current state of the ongoing discussions, to postpone until March 31 st 2019 their decision on whether or not to exercise their rights to early terminate the existing financing. They have also agreed to postpone the repayments that were due on December 31 st 2018 1 until that same date.
The additional financing requirements of the German sub-group were reassessed at €27 million (vs. €26 million previously) for the period ending as of December 31 st 2019, aiming in particular at covering its anticipated working capital requirements and its planned investments required to maintain its operating activities.
Since part of these funds is necessary during the first quarter of 2019, within the scope of the on-going discussions, the German sub-group has obtained from Glencore International AG a €10 million bridge financing, in order to cover its short-term working capital requirements. The term of such bridge-financing, set on March 31 st 2019, would be postponed in case a global agreement is reached between all the concerned parties by that date.
Moreover, production resumed at Weser-Metall GmbH’s lead smelter end of January 2019, following the replacement of the main (BSF) furnace’s refractory bricks during its anticipated maintenance shutdown.
Recylex will keep investors informed of developments in and the outcome of the ongoing discussions.
In addition, Recylex will release its quarterly financial information relating to its consolidated sales as at December 31 st 2018, on Thursday, February 14 th 2019 (after market close).
1 See the press releases of December 5 th 2018 and January 8 th 2019.
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Raw materials from urban mines
The Recylex Group, based in France and Germany, is a European specialist in the recycling of lead, zinc, polypropylene and in the production of high-purity special metals. As a key player in the circular economy and thanks to its long-standing know-how, Recylex achieved consolidated sales of 450 million euros in 2017 and employs more than 650 people.
To find out more, please visit our website www.recylex.fr or join @Recylex on Twitter and LinkedIn.
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Press/Investor contact:
Gabriel ZEITLIN
+ 33 (0)1 58 47 29 89
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