Swedish floating wind developer Hexicon has extended a SEK 75 million (€6.5 million) credit facility as it prepares to make a series of planned divestments.
The facility has been extended for a further six months until 30 June 2025.
Lenders include Wallstreet Aktiebolag and a “group of private financiers”, Hexicon said.
The credit facility provides support during a period of planned divestments. The extension enables Hexicon to proceed with divestments and focus on its other strategic priorities to secure the necessary financing, the company explained.
Hexicon has pledged its shares in Hexicon Korea as additional collateral.
The extension of the credit facility comes amid apparent financial difficulties for Hexicon.
The company is yet to publish its full-year financial results for 2024, but it reported a SEK 134 million loss for the first nine months of the year.
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