ACCENTRO announces result and status of negotiations on 'no action letters' with a group of major bondholders of the 2020/2026 bond and the bondholder of the 2021/2029 bond
|
EQS-Ad-hoc: Accentro Real Estate AG / Key word(s): Financing/Real Estate ACCENTRO announces result and status of negotiations on "no action letters" with a group of major bondholders of the 2020/2026 bond and the bondholder of the 2021/2029 bond Berlin, 10 May 2024 – ACCENTRO Real Estate AG (the "Company”) announces that a group of major bondholders of the 2020/2026 bond (ISIN DE000A254YS5 / WKN A254YS, "2020/2026 bond"), which in total account for approx. 41,6 % of the bond capital, have signed a “no action letter”. Essentially, the no action letter is intended to preclude a termination of the bond due to a breach of the limitation on net financial indebtedness set out in the bond terms and conditions and the agreed reporting obligations as well as corresponding enforcement. In addition, the no action letter contains the following main provisions: The provision of certain third-party validations as a prerequisite for validity, the Company's obligation to meet certain milestones, including certain obligations to prepare a restructuring solution to be negotiated with the respective bondholders in the upcoming months, and a provisional term until 14 July 2024. The negotiations with the bondholder of the 2021/2029 bond (ISIN DE000A3H3D51 / WKN A3H3D5, "2021/2029 bond") on a corresponding no action letter are constructive and positive. However, it has not yet been possible to reach a final agreement on all commercial and legal issues. The Management Board and the Company's advisors are working intensively to bring the negotiations with the bondholder of the 2021/2029 bond to a successful conclusion and implement the agreement in principle in a singed no action letter in due time.
Notifying person: Thomas Eisenlohr, Head of Investor Relations
Berlin, 10 May 2024 The Management Board ISIN: DE000A0KFKB3 / DE000A3H3D51 / DE000A254YS5 Stock exchange: Frankfurt Stock Exchange, regulated market (Prime Standard) / Luxembourg Stock Exchange End of Inside Information
10-May-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Accentro Real Estate AG |
| Kantstr. 44/45 | |
| 10625 Berlin | |
| Germany | |
| Phone: | +49 (0)30 - 887 181 - 0 |
| Fax: | +49 (0)30 - 887 181 - 11 |
| E-mail: | info@accentro.ag |
| Internet: | www.accentro.ag |
| ISIN: | DE000A0KFKB3 |
| WKN: | A0KFKB |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1900773 |
| End of Announcement | EQS News Service |
|
|
1900773 10-May-2024 CET/CEST
