Wallbox reaches standstill agreement with majority of lenders

Wallbox N.V. (NYSE:WBX) announced Friday that it has entered into a standstill agreement with the majority of its banking group, including Banco Santander, S.A., Banco Bilbao Vizcaya Argentaria, S.A., and CaixaBank, S.A. The agreement was reached on Thursday and aims to provide a stable framework for negotiating a long-term capital structure for the company and its subsidiaries.

Under the agreement, the majority lenders have formally recognized certain waivers and consents previously granted to Wallbox. They have also agreed to temporarily suspend payments of principal and interest until 11:59 p.m. Central European Time on December 9, 2025, or until a long-term capital structure is implemented, whichever occurs first. The agreement anticipates the possibility of certain breaches, including payment defaults, during its term and includes mechanisms to manage such events as part of ongoing discussions.

Wallbox stated that within one month, additional lenders—including Instituto de Crédito Oficial E.P.E., Institut Català de Finances, Mora Banc Grup, S.A., and EBN Banco de Negocios, S.A., under a syndicated loan agreement, as well as Compañía Española de Financiación del Desarrollo, COFIDES, S.A., S.M.E., under a separate loan—are expected to join the agreement. The company is in advanced negotiations with these lenders to meet the one-month deadline for accession.

The agreement also requires certain minority lenders to join within one month. If any of these minority lenders do not accede within the specified period, the majority participating lenders may choose to terminate the agreement.

This information is based on a press release statement contained in a filing with the Securities and Exchange Commission.

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