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Supporting restructuring and M&A, Meyer Burger expands production with facility upgrades, bondholder agreements, and Goodyear ramp-up. (Image Source: MeyerBurger)
Switzerland-based Meyer Burger Technology AG has amended its bridge facility agreement, extending its maturity to February 14, 2025, and increasing the total amount to USD 59.5 million. This includes an immediate tranche of USD 11.2 million and two additional sub-tranches totaling up to USD 22.4 million, subject to conditions. The company has initiated a strategic M&A process with potential buyers and retained a financial adviser, while a comprehensive restructuring remains an alternative if the M&A process is unsuccessful. Meyer Burger is also convening bondholder meetings to seek approvals for deferring interest payments and reducing the notice periods for meetings. Meanwhile, negotiations with its largest customer, DESRI, are underway for a new master agreement. Production at its Goodyear, Arizona facility is advancing, with the first line supplying DESRI projects and the second line ramping up to achieve full annual capacity of 1.4 GW by year-end.