- Agreement reached with creditors representing more than 83% of Wallbox's financial debt; expected to be signed by April 8, 2026
- Extends existing debt maturities to December 31, 2030, improving cost of capital and enhancing financial flexibility
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 agreed on the final terms to implement a comprehensive restructuring plan, subject to signing of the relevant documentation, court approval and customary conditions. This agreement builds on the preliminary agreement announced on December 1, 2025, and March 4, 2026, and reflects the principal formalizing of the restructuring terms and advancing toward full implementation.
The plan has been agreed with major financial creditors representing more than 83% of the Group's financial debt, and with certain key shareholders, Wallbox' CEO, and new institutional investors through a capital increase. Through this process, Wallbox aims to establish a sustainable long-term capital structure, secure sufficient liquidity to execute its business plan, and better align its future debt obligations with expected cash generation.
Framework Loans and Working Capital Financing
In line with previous announcement by the Company, Banco Santander, BBVA, CaixaBank and other principal lenders have agreed on the terms of the restructuring of Wallbox's financial debt through a new framework structure, including extended maturities, amortization profiles and interest terms. The main terms and conditions of the debt, if and when the restructuring plan has been sanctioned and is effective, will be as follows:
- A €57.6 million framework loan maturing in December 2030. Amortization will begin in the third quarter of 2026, with interest gradually increasing through 2030.
- A €69.1 million bullet instrument, also maturing in December 2030, with payment-in-kind (PIK) interest capitalising to the outstanding principal balance upon maturity.
- A working capital framework for an approximate amount of €42.8 million, while preserving the key features of the existing working capital financing within a syndicated structure maturing on December 31, 2030.
The new debt instruments will be backed by a customary security package, including guarantees and pledges over certain Group assets, and will incorporate the standard terms and conditions typical of transactions of this nature.
New Money and Shareholder Capital Increase
In order to facilitate the debt refinancing of €169.6 million, the restructuring plan will contemplate a €10.65 million capital increase and up to €12.5 million of new financing from participating banks, structured as follows:
- €5.65 million capital injection expected to be provided by key strategic shareholders, comprising of Orilla Asset Management, S.L., Inversiones Financieras Perseo, S.L. (Iberdrola Group), AM Gestio, S.L., Consilium, S.L., Mingkiri, S.L. and Wallbox's CEO (through an investment vehicle).
- €5 million capital injection expected to be provided by the Generalitat de Catalunya through IFEM (Instruments Financers per a Empreses Innovadores, S.L. Unipersonal).
- Up to €12.5 million in new financing by participating banks to support the Company's working capital and optimize its cash management, with 50% of the facility to be guaranteed by an export credit agency. Failing such guarantee, the total amount may be reduced to the amount of the bank interim financing detailed below.
As an initial support measure, the Company is expected to receive a total of €11 million in interim financing. This includes €5.65 million to be provided by the aforementioned shareholders, which will be advanced through a bridge loan upon signing of the restructuring plan and is expected to be converted into equity when the capital increase is completed; as well as €5.35 million of interim financing from participating banks, forming part of the overall new financing cap of €12.5 million.
Once signed, the restructuring plan will be submitted in the following days to the Commercial Section of the Court of First Instance of Barcelona for sanctioning. If the court approves the plan and certain customary conditions precedent are satisfied, the restructuring plan will become binding on all affected financial and non-financial creditors and, subject to the execution of relevant definitive documentation and the satisfaction of customary documentary conditions precedent, the restructuring will become effective.