Setterwalls has advised Hexicon in connection with the extension of a cross-border loan facility with Nuveen

Setterwalls has advised Hexicon AB (publ) in connection with the extension of its existing cross-border development loan facility with Nuveen Infrastructure through a new tranche, including a set-off mechanism for the conversion of loans into shares.

The cross-border facility with the international infrastructure investor Nuveen Infrastructure, denominated in EUR and entered into with the Swedish listed company Hexicon AB (publ), was originally entered into in 2023 and has since been extended and amended on several occasions. The facility has now been extended through a new tranche and is intended to finance corporate overhead and the continued development of Hexicon’s projects.

Part of the new tranche will be funded through so-called back-leverage financing provided by certain lenders, including some of Hexicon’s largest shareholders. Subject to approval at an Extraordinary General Meeting of Hexicon AB, the lenders will have the right to set off their respective loans against ordinary shares in Hexicon AB.