Graphene Nanochem restructures its debt, to sell non-core businesses

Graphene Nanochem agreed to restructure its debt with its Malaysian lenders – and as part of the deal Nanochem will sell its non-core business and exit from low-margin operations.

Graphene Nanochem has about £16 million in debt to Malaysia Debt Venture, and the maturity on that debt was pushed back from November 2015 to the end of 2012 (at an interest rate of 8%). The company will pay its remaining £12 million long-term debt by selling its fuel additive assets and palm oil refinery.