Wallbox agrees to refinance €170 million of debt until 2030 and a €22.5 million capital injection

BarcelonaWallbox has reached an agreement with its main banks, Banco Santander, BBVA, and CaixaBank, which represent 65% of its net financial debt, to refinance €170 million of its liabilities. The Catalan manufacturer of electric vehicle chargers has also secured a €22.5 million capital injection through €12.5 million in new credit lines and a €10 million capital increase from shareholders such as Inversiones Financieras Perseo (Iberdrola), Orilla Asset Management, AM Gestión, and Consilium. In a statement released this Monday, the Barcelona-based company announced that it will refinance its debt through a new syndicated loan structure that includes a review of maturities, amortization schedules, and interest rates. "This structure has been designed to strengthen liquidity and consolidate a more solid and sustainable capital base for the coming years," Wallbox explained. Its CEO, Enric Asunción, has said that this is a "key" agreement to strengthen its financial position.

This financial move comes after the company closed the third quarter of the year with losses of 20.8 million euros51% less than the same period last year. It brought in 35.5 million euros, 2% more than in the same quarter of the previous year, something that Asunción described as "mixed" results because revenues were below expectations but gross margin, efficiency and improvement forecasts were exceeded.

Three different packages

The €170 million in refinancing is divided into three parts. The first consists of €55 million in bilateral loans—held with a single bank—which will be transformed into a new long-term syndicated loan—with a group of banks—maturing in December 2030. Repayment will begin in the third quarter of 2026, with reduced initial quarterly payments and a 30% increase. The second part involves the creation of an instrument bullet of €63 million, which consists of paying off the entire principal at the end without gradual amortization. It will mature in December 2030 and will accrue PIK interest – meaning it will not be paid but rather added to the principal. The final package is the restructuring of the current working capital lines – short-term loans – into a new syndicated line – meaning distributed among different banks – of €52 million, maturing in December 2028.

This amount, plus the ongoing negotiations the company has with its other creditors, represents 85% of the total current financial debt of the electric vehicle charger company.