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Accentro Real Estate AG
Capital/Financing Update • Jan 16, 2025
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Capital/Financing Update
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Ad-hoc | 16 January 2025 23:20
ACCENTRO and bondholders agreed on extension of current bridge notes and an additional bridge funding as part of the ongoing restructuring negotiations
Accentro Real Estate AG / Key word(s): Financing/Real Estate
ACCENTRO and bondholders agreed on extension of current bridge notes and an additional bridge funding as part of the ongoing restructuring negotiations
16-Jan-2025 / 23:20 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.
The issuer is solely responsible for the content of this announcement.
ACCENTRO and bondholders agreed on extension of current bridge notes and an additional bridge funding as part of the ongoing restructuring negotiations
Berlin, 16 January 2025 – ACCENTRO and a group of bondholders, which together hold approximately 68% of the EUR 225m outstanding principal amount 2020/2026 bond and 100% of the EUR 100m outstanding principal amount 2021/2029 bond (together the “Ad Hoc Group”; the 2020/2026 and 2021/2029 bond together the “Outstanding Bonds”) agreed on an extension of the current bridge notes until 30 June 2025 and an additional bridge funding (together “Bridge Funding”) in an aggregate amount of up to approximately EUR 21m as and if needed in order to cover ACCENTRO’s liquidity needs until 30 June 2025 and to facilitate the ongoing negotiations on a comprehensive restructuring solution under the lead of the Ad Hoc Group between the Ad Hoc Group and various stakeholders. The Ad Hoc Group is entitled but not obliged to terminate the Bridge Funding if no agreement reasonably acceptable to ACCENTRO and the Ad Hoc Group is reached with relevant stakeholders by 3 February 2025.
The ongoing negotiations between the Ad Hoc Group and various stakeholders are based on the key assumptions announced in the ad hoc disclosure dated 12 August 2024, however the Management Board assumes that the announced ranges of the targeted sustainable volume of reinvestment in the new development of the privatization portfolio and the expected additional liquidity-generating reduction in other receivables and investments may be revised.
ACCENTRO understands that the legal and economic structure of the comprehensive restructuring solution is still subject to ongoing negotiations, whereby a comprehensive restructuring of both the debt and equity sides of ACCENTRO is part of the negotiations as already announced in the ad hoc disclosure dated 12 August 2024.
Notifying person:
Thomas Eisenlohr, Head of Investor Relations
Phone: +49 (0)30 887181272
Berlin, 16 January 2025
The Management Board
ACCENTRO Real Estate AG
Kantstrasse 44/45
D-10625 Berlin
ISIN: DE000A0KFKB3 / DE000A3H3D51 / DE000A254YS5
Stock exchanges: Frankfurt Stock Exchange, regulated market (Prime Standard) / Luxembourg Stock Exchange
End of Inside Information
16-Jan-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| 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: | [email protected] |
| 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: | 2069465 |
| End of Announcement | EQS News Service |