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Capital/Financing Update • Feb 1, 2024
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Capital/Financing Update
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Ad-hoc | 1 February 2024 23:37
Branicks Group AG: Branicks Group AG: Agreement with lenders of bridge financing on provisional suspension of certain loan conditions and payment obligations
Branicks Group AG / Key word(s): Financing/Agreement
Branicks Group AG: Branicks Group AG: Agreement with lenders of bridge financing on provisional suspension of certain loan conditions and payment obligations
01-Feb-2024 / 23:37 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014
Branicks Group AG: Agreement with lenders of bridge financing on provisional suspension of certain loan conditions and payment obligations
Frankfurt, 01.02.2024 – Today, Branicks Group AG („Branicks“), ISIN: DE000A1X3XX4, has been able to agree with the lenders of the bridge financing still valued in the amount of EUR 200 million for the acquisition of their shares in VIB Vermögen AG, which was completed in 2022, to suspend certain loan conditions and repayment obligations, initially until 27 March 2024. This paved the way towards further negotiations regarding a sustainable new financing arrangement.
Part of the sustainable new regulation should also be an amicable solution with the promissory note holders of the promissory note loans maturing in 2024 for a total of EUR 225 million. Negotiations with the promissory note holders on the adjustment of the promissory note loans are also still ongoing.
The Management Board is confident that it will be able to bring the further negotiations to a positive conclusion and continues to examine and pursue additional measures to stabilise the liquidity situation.
Branicks will continue to keep the capital markets and the general public informed about the further progress in accordance with statutory requirements.
IR-Kontakt Branicks Group AG:
Jasmin Dentz
Neue Mainzer Straße 32-36
60311 Frankfurt am Main
Fon +49 69 9454858-1492
End of Inside Information
01-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Branicks Group AG |
| Neue Mainzer Straße 32-36 | |
| 60311 Frankfurt am Main | |
| Germany | |
| Phone: | +49 69 9454858-1492 |
| Fax: | +49 69 9454858-9399 |
| E-mail: | [email protected] |
| Internet: | www.branicks.com |
| ISIN: | DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9 |
| WKN: | A1X3XX, A12T64, A2GSCV, A2NBZG |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange |
| EQS News ID: | 1828615 |
| End of Announcement | EQS News Service |