SPI Energy Co., Ltd., the global provider of renewable energy solutions, entered into an amendment agreement with respect to the company’s convertible bond financing from December 2014, when the company had entered into a definitive agreement with Union Sky Holdings Group Limited and issued a convertible promissory note of US$20mln to a special purpose vehicle of Union Sky.
The maturity date for this note was June 28, 2016, and in February 2017, SPI entered into an amendment agreement with the purpose to extend the maturity dates of the note to April 2017, January 2018 and January 2019. However, there has been no repayment made pursuant to this amendment, and on June 29, 2018 the company entered into another amendment agreement with the SPV and Magical Glaze Limited, registered in the British Virgin Islands. Pursuant to this agreement, all the rights and obligations under the agreement and the first amendment have been transferred to the BVI company, with the extension of the last maturity date to December 2020.
