REC Silicon : Extension of USD 30 million Facility Loan on Identical Terms

REC Silicon Extension of USD 30 million Facility Loan on Identical Terms

14 Jun 2024 18:35 CEST

Subscribe

Issuer

REC Silicon ASA

Moses Lake, Washington USA -- June 14, 2024: REC Silicon Inc, a fully owned
subsidiary of REC Silicon ASA (the "Company") has extended its USD 30 million
facility loan from Standard Chartered Bank in New York on identical terms as
the existing facility loan.

The facility is fully guaranteed by REC Silicon's largest shareholder Hanwha
Solutions and will mature on June 13, 2025.

"This facility is part of the overall financing plan for our operations and
the ongoing restart and expansion initiatives. We are pleased to be able to
secure funding at attractive terms with the support from our largest
shareholder", says CEO Kurt Levens.

As a leading producer of silane gases and silicon metals, REC Silicon is well
positioned to capitalize on the global megatrends of digitalization, energy
transition and energy storage. The Company has developed a strong market
position in the semiconductor industry based on its operations in Butte. The
reopening of the Moses Lake operations will enable REC Silicon to provide
polysilicon to an emerging US solar PV value chain and potentially supply
silane gas as anode material to a fast-growing EV battery industry in the US.

Contacts
------------------------------------------------------------------------------
Jack Yun
CFO
[e-mail]

Nils O. Kjerstad
IR Contact
Phone: [phone]
Email: [e-mail]

About Us
------------------------------------------------------------------------------
REC Silicon is a global leader in silane based high purity silicon materials.
We combine 40 years experience and best-in-class proprietary technology to
deliver on customer expectations. Our two U.S. based plants have a combined
production capacity of more than 30,000 MT of high purity silane gas. Our
Signature Silane® based products are used in everyday quality of life
technologies, emerging technologies, cutting edge power and memory devices,
high-voltage transmission, as well as renewables. REC Silicon is headquartered
in Lysaker, Norway and listed on the Oslo stock exchange under the ticker:
RECSI.

For more information, go to: www.recsilicon.com

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 19 no. 3. The information was submitted for publication
at 2024-06-14 18:35 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

621595_REC Silicon Extension of USD 30 million Facility Loan on Identical Terms.pdf

Source

REC Silicon ASA

Provider

Oslo Børs Newspoint

Company Name

REC SILICON

ISIN

NO0010112675

Symbol

RECSI

Market

Oslo Børs