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Solar Integrated in sale talks, loan deal
Thu, 02 Sep, 2010
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Solar Integrated in sale talks, loan deal
Tue, 5 May 2009, 10:50:00
Solar panel group <b>Solar Integrated Technologies</b> is mulling the sale of its business and is in talks with potential buyers, but discussions about a $25m credit facility have ended. Los Angeles-based Solar had been in talks with a commercial lender about an asset-based revolving line of credit of up to $25m to replace its existing facility. Instead, the firm has extended the term of its loan and security agreement with GE Energy Financial Services until 3 July. "The board of directors and management cautions the company's shareholders and others considering trading in its securities that there is no assurance that the company will be successful in further extending the facility, or in otherwise securing financing or a buyer for the company," it warned. Results for 2008 are due later this month.
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