HSBC and Citibank join the agreement, strengthening international financial support for Wallbox’s restructuring plan
Wallbox N.V. (NYSE: WBX) (“Wallbox” or the “Company”, and together with its consolidated subsidiaries, the “Group”), a global provider of electric vehicle charging and energy management solutions, has completed the creditor accession process for its previously announced financial restructuring plan, with HSBC and Citibank among the creditors joining the plan.
The Company believes the broad participation reflects the confidence of the financial sector in the viability of the restructuring plan signed on April 8 with its main financial creditors and shareholders, as well as in Wallbox’s business strategy for the coming years.
“The support for our restructuring plan reflects growing confidence in a robust restructuring plan, and we believe underscores our partners’ confidence in Wallbox’s strategy and operational capabilities. This support allows us to continue moving forward with the implementation of the plan and the strengthening of our business,” said Enric Asunción, Co-founder and CEO of Wallbox.
Following the signing of the agreement, Wallbox secured approximately €11 million in interim financing from certain shareholders and participating banks, which provides near-term liquidity and marks further progress in the execution of the restructuring process.
The plan has been signed by the Company’s main financial creditors, including Spanish financial institutions, alongside international banks HSBC and Citibank. Other participating creditors include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), CaixaBank, Instituto de Crédito Oficial (ICO), Mora Banc Grup, S.A., Cofides, Institut Català de Finances (ICF), and EBN Banco de Negocios, S.A.
In addition, key strategic shareholders, including Orilla Asset Management, S.L., Inversiones Financieras Perseo, S.L. (Grupo Iberdrola), AM Gestio, S.L., Consilium, S.L., Mingkiri, S.L., and Enric Asunción, Co-founder and CEO of Wallbox, are participating in the plan. The plan also includes the participation of the Generalitat de Catalunya, through IFEM, as a new institutional investor.
The restructuring plan has been submitted for court approval before the Commercial Court of First Instance in Barcelona. Once approved, the plan will become binding on all affected creditors, allowing Wallbox to move forward with its new capital structure.
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 100 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com.
