Eramet: SLN debt converted into quasi-equity

(CercleFinance.com) - Following discussions in recent weeks with the French State, Eramet has reached an agreement on the treatment of SLN's existing debt, which will neutralize the weight of this debt in the Group's consolidated accounts.


The 320 million euros of existing French government loans to SLN, currently consolidated as financial debt, will be converted into quasi-equity, which will be treated as equity in Eramet's consolidated financial statements.

Eramet will similarly convert the 325 million euros of existing intra-group debt. This conversion has no impact on the Group's consolidated financial statements, but enables pari passu treatment of the French State's and Eramet's receivables.

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