On May 19, 2023, FuelCell Energy Opco Finance 1 Entered Into A Financing Agreement With Multiple Banks For A Term Loan Facility And A Letter Of Credit Facility In An Amount Not To Exceed $87M
Portfolio Pulse from Happy Mohamed
FuelCell Energy Opco Finance 1 secured a financing agreement with multiple banks for a term loan facility and a letter of credit facility totaling $87M. The funds will be used to repay existing debts, re-acquire projects, and provide $46.1M in unrestricted cash for FuelCell Energy, Inc.
May 25, 2023 | 12:11 pm
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FuelCell Energy, Inc. secured $87M in financing through its subsidiary, providing $46.1M in unrestricted cash for the company.
The financing agreement will provide FuelCell Energy with $46.1M in unrestricted cash, which can be used for various purposes such as growth initiatives, debt repayment, or working capital. This influx of cash is likely to have a positive short-term impact on the company's stock price.
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