Polestar Automotive Holding UK PLC (PSNY) Form 6-K — Sep 3, 2026
On September 3, 2026, Polestar Automotive Holding UK PLC entered into a USD 400,000,000 term loan facility with Geely Sweden Automotive Investment AB (GSAI), a wholly-owned subsidiary of Geely Sweden Holdings AB and one of Polestar's affiliates. The first USD 100,000,000 tranche is committed and priced at Term SOFR plus 3.20%, while the second USD 300,000,000 tranche is uncommitted, to be disbursed in Chinese renminbi at a fixed 4.48%, and is available only with lender consent. Proceeds must be applied exclusively to repay an existing USD 400,000,000 Geely cash-backed bank facility on or before September 30, 2026, and the new loan must be repaid 365 days after the first drawdown.
Key figures
- Debt Amount
- 400000000
- Interest Rate
- Tranche A: Term SOFR (zero floor) + 3.20%; Tranche B: 4.48% fixed (RMB-denominated)
- Maturity Date
- 365 days from first Utilization Date; utilization available until 30 September 2026
- Security
- Obligations are not guaranteed or secured
- Governing Law
- English law
- Use Of Proceeds
- Exclusively repayment of the USD 400,000,000 Geely cash-backed bank facility on or before 30 September 2026
- Subordinated To
- EUR 340,000,000 and USD 583,489,000 multicurrency green term loan (Club Loan Facilities Agreement, Standard Chartered Bank as agent)
- F3 Shelf Deadline
- Within 90 days following the Equity Conversion Date
- Minimum Prepayment Usd
- 5000000
- Tranche ACommitted Usd
- 100000000
- Tranche BUncommitted Usd
- 300000000
- Cross Default Threshold Usd
- 40000000
- Loans Guarantees Basket Usd
- 30000000
- Acquisition Covenant Cap Usd
- 30000000
- Equity Conversion Price Basis
- Average NASDAQ closing price of Class A American Depositary Shares over 5 trading days preceding Equity Conversion Exercise Notice
- Creditors Process Threshold Usd
- 40000000
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