BUZZ-FuelCell Energy secures $25 million EXIM loan; shares down

Reuters
12/01
BUZZ-FuelCell Energy secures $25 million EXIM loan; shares down

** Shares of renewable power company FuelCell Energy FCEL.O fall 3.7% at $6.4

** Co closes a new round of debt financing with the Export-Import Bank of the United States (EXIM)

** The transaction provides about $25 million in gross proceeds

** Proceeds will support production of fuel cell modules for the final phase of FuelCell Energy's upgrade at Gyeonggi Green Energy's Hwaseong Baran Industrial Complex in South Korea

** "This repeat financing enhances our capital flexibility and enables us to accelerate our efforts to serve international markets," says FCEL CFO Michael Bishop

** Including session's move, shares down 28.7% YTD

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com;))

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