Evergreen Solar in restructuring talks with convertible noteholders

By Caroline Salls

Pittsburgh, July 11 - Evergreen Solar, Inc. has hired financial advisers and is in talks with holders of its outstanding convertible notes regarding the terms of a restructuring, according to an 8-K filed with the Securities and Exchange Commission.

The company said it is exploring opportunities to address its excess debt and debt service requirements in the near term in order to significantly deleverage and better position it to execute its business strategy.

According to the 8-K, any restructuring is expected to significantly or completely dilute Evergreen's existing stockholders.

Evergreen Solar makes solar-power products and is based in Marlboro, Mass.

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