(Reuters) – Embattled Swiss solar panel maker Meyer Burger said on Wednesday its bondholders have approved changes to convertible bonds maturing in 2027 and 2029 to inject fresh capital into the business and restructure existing liabilities under certain convertible bonds.
Meyer Burger is one of the few European solar panel makers left after the market was saturated with cheaper Chinese imports.
In November last year, the Swiss firm raised doubts about its future after its largest customer, DESRI, terminated contracts. This followed a series of other setbacks for the company.
Meyer Burger previously said it has suffered from market distortion caused by production overcapacity in China and trade restrictions imposed by India and the United States.
(Reporting by Gursimran Kaur in Bengaluru; Editing by Alan Barona)
