Nordex has called an extraordinary general meeting on 27 March 2023 to increase the share capital in the company by 13.8%.
The new shares will only be sold to Acciona, which currently holds 40.97% of the company’s equity, which has made two shareholder loans for Nordex.
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The €347m debt for equity swap will strengthen Nordex’s capital structure and improve financial performance, its board said.
In particular, the interest costs would substantially reduce by around €46m on an annual basis.
The proposed capital increase also builds on the strategy to strengthen the balance sheet against the short-term risks to which the sector is exposed, the board added.