EQ Resources Cuts Saloro Unit's Debt 25%; Shares Fall 3%

MT Newswires Live

Jun 17, 2025

EQ Resources (ASX:EQR) said the repayment of a debt facility totaling 5 million euros by its Spanish subsidiary, Saloro, reduced its debt to Santander by 25% and secured extensions on remaining credit lines, according to a Monday filing with the Australian bourse.

The repayment aligns with earlier debt extension plans, with the remaining debt of 15 million euros with Santander extended to Dec. 10 and CaixaBank approving a 5-million-euro extension, pending final documentation by month-end, the filing said.

Following record production and an unaudited 4.4 million euros in earnings before interest, taxes, depreciation, and amortization for the fourth quarter of 2024 to the first quarter of this year, the company started talks with Santander and Caixa to restructure Saloro's credit facilities, the filing added.

The company's shares slipped almost 3% in recent Tuesday trade.

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