The competent court has ratified the restructuring agreement and the business plan for the reorganization of Elefsis Shipyards with the investment by ONEX Elefsis Shipyards. The decision regulates obligations of 250 million euros to the state, social security funds, employees, the Hellenic Navy and creditor banks, while the investor commits €250 million in the medium term for developing new infrastructure and modernizing the existing one, as well as the shipyard’s mechanical equipment. ONEX Shipyards and the US International Development Finance Corporation (DFCgov) will sign an agreement to fund the streamlining plan of Elefsis Shipyards with over $100 million on Monday. ONEX has already paid 8 million euros to the shipyards' workers.
Shoals Technologies Group, Inc. has successfully amended its credit agreement, introducing a new $200 million revolving loan facility. The amendment reduces the interest rate margin for revolving loans and lowers the commitment fee on undrawn loans. It also decreases the maximum consolidated first lien secured leverage ratio and extends the maturity date for the revolving loans. The amendment aims to improve Shoals Technologies' financial flexibility and reduce borrowing costs in the renewable energy sector.
Shire Leasing PLC has acquired 100% of Shire Securities Limited (SSL), trading as Shire Funding Solutions and Shire Merchant Services. The acquisition brings B2B loan resources and capabilities into Shire Leasing's repertoire. Malcolm Workman, Chief Operating Officer of Shire Leasing, has been appointed as the Managing Director of SSL. Shire Leasing has written over £50m of Business Loans directly to their portfolio since 2021. The acquisition provides Shire Leasing with the foundation of a £6m Business Loan portfolio. SSL's range of services includes business loans, merchant cash advance, commercial mortgages, and property development finance. The acquisition enhances Shire Leasing's capabilities and positions them for growth in the asset finance and B2B lending markets. [1e2ccf22] [cbaf964b] [f37323a0]