Wallbox has agreed on final terms for a comprehensive debt restructuring plan covering more than 83% of the Barcelona-based EV charger maker’s financial debt. The deal, expected to be signed by April 8, 2026, extends existing debt maturities to December 31, 2030, and includes a €10.65 million (~$12.2 million) capital increase alongside up to €12.5 million (~$14.4 million) in new bank financing.
Highlights
- Creditors holding over 83% of Wallbox’s financial debt have agreed to restructuring terms, with formal signing expected by April 8.
- All major debt instruments will mature in December 2030, replacing current obligations with extended amortization profiles and revised interest structures.
- A €10.65 million (~$12.2 million) equity raise will combine strategic shareholder contributions with a €5 million (~$5.75 million) injection from Catalonia’s regional government investment arm.
- Once signed, the plan will be submitted to the Commercial Court of Barcelona for judicial approval.
Framework Loan Structure
Banco Santander, BBVA, CaixaBank, and other principal lenders have agreed to restructure Wallbox’s €169.6 million (~$195 million) in financial debt through three instruments:
- Framework loan: €57.6 million (~$66.2 million), maturing December 2030. Amortization begins in Q3 2026, with interest rates gradually increasing through maturity.
- Bullet instrument: €69.1 million (~$79.5 million), also maturing December 2030. This tranche carries payment-in-kind (PIK) interest that capitalizes to the outstanding principal at maturity.
- Working capital facility: Approximately €42.8 million (~$49.2 million) in a syndicated structure, maturing December 31, 2030. This preserves key features of Wallbox’s existing working capital financing.
All new debt instruments will carry a security package including guarantees and pledges over certain group assets.
Equity Raise and New Money
The restructuring also includes fresh capital from shareholders, government sources, and participating banks:
- Strategic shareholders: €5.65 million (~$6.5 million) from Orilla Asset Management, Inversiones Financieras Perseo (Iberdrola Group), AM Gestio, Consilium, Mingkiri, and Wallbox CEO Enric Asunción through an investment vehicle.
- Catalan government: €5 million (~$5.75 million) from IFEM (Instruments Financers per a Empreses Innovadores), an arm of the Generalitat de Catalunya.
- Bank financing: Up to €12.5 million (~$14.4 million) to support working capital, with 50% backed by an export credit agency guarantee. If the guarantee is not secured, the total may be reduced.
As a bridge measure, Wallbox expects to receive €11 million (~$12.7 million) in interim financing upon signing. This includes €5.65 million from shareholders through a bridge loan convertible into equity, plus €5.35 million (~$6.2 million) from participating banks.
Path to Court Approval
Once signed, the restructuring plan will be filed with the Commercial Section of the Court of First Instance of Barcelona. If the court sanctions the plan and customary conditions are met, the restructuring becomes binding on all affected financial and non-financial creditors.
The agreement builds on preliminary terms announced on December 1, 2025, and March 4, 2026. The company reported €145.1 million in full-year 2025 revenue and guided Q1 2026 revenue of €33–36 million with negative adjusted EBITDA of €3–5 million.
Wallbox also received a NYSE non-compliance notice in March 2026 related to continued listing standards, adding urgency to the restructuring timeline.
“This milestone strengthens our financial position and marks the beginning of the next phase for the company, where we will focus on improving operational performance and consolidating our business in key markets,” said Enric Asunción, co-founder and CEO.
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