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Stock impact report

Polestar secures $300m equity injection as Geely converts debt to shares [Yahoo! Finance]

Banco Bilbao Vizcaya Argentaria S.A. (BBVA) 
US:NYSE Investor Relations: shareholdersandinvestors.bbva.com
Company Research Source: Yahoo! Finance
The funding came alongside a separate debt-for-equity move by shareholder Geely Sweden Holdings. The equity investment is being provided in equal tranches of $150m by Banco Bilbao Vizcaya Argentaria (BBVA) and Natixis. In conjunction with their investment, both banks have reached put option deals with a wholly owned subsidiary of Geely Sweden Holdings. These options give the institutions the right to exit the position after three years, subject to defined return terms under the financing structure. In a separate step, Geely Sweden Holdings has reached an agreement with the carmaker to swap roughly $300m of unpaid principal and accumulated interest for shares. The liabilities arise from a term facility agreement that was put in place on 8 November 2023. The conversion remains subject to any required regulatory clearances. Polestar CEO Michael Lohscheller said: “These transactions significantly enhance our liquidity position and help strengthen our balance sheet. “We ar Show less Read more
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