2025 ahead ayondo Franchise coming soon
Happy 
xMas Holidays
xMas Holidays
xMas Holidays
|
EQS-Ad-hoc: Accentro Real Estate AG / Key word(s): Financing/Real Estate ACCENTRO Real Estate AG proposes new concept for mandatory special redemptions and interest to holders of the bond maturing in 2026 Berlin, 9 November 2023 - Against the background of the current market environment, ACCENTRO Real Estate AG ("Company") has decided to propose to the holders of its 2020/2023 bond (now 2020/2026, ISIN DE000A254YS5 - the "Bond") a new concept for mandatory special redemptions and interest, which includes the postponement of mandatory special redemptions and the deferral of the interest payment that would otherwise become due in February 2024. The Bond with an outstanding nominal value of EUR 225 million provides, among other things, the obligation that after a first partial redemption of EUR 25 million in March 2023, a further partial redemption of the Bond totalling EUR 40 million must be made by 31 December 2023 at the latest. According to the current conditions, the Bond must also be redeemed by a total of at least EUR 130 million by 31 December 2024 and by a total of at least EUR 150 million by 28 February 2025. Against the background of the continuing weak market environment and the market prices achievable under these conditions, the Company has concluded that the implementation of the previously agreed partial redemption would have required an inflow of liquidity through portfolio sales, which could currently only be realised at market prices that do not reflect the higher inherent value from the Company's perspective. The talks following the expression of interest by NongHyup Bank Co. Ltd. and Nox Capital Holding GmbH have also not yet led to sufficient results, meaning that no further funding can be expected in time. The Company has therefore decided to convene a vote without a meeting imminently, at which a decision will be taken on, among other things, postponing the first mandatory special redemption by one year to 31 December 2024 and postponing the other mandatory special redemptions to 30 June 2025 and 31 December 2025. In addition, the Company intends to put to a vote a deferral of the interest payment that would otherwise become due in February 2024 until 31 December 2024. The Company made the decision to invite to a vote without a meeting against the background of negotiations with a group of major bondholders and their advisors on a new structure for mandatory special redemptions and interest. Based on these negotiations, which lasted several weeks, the Management Board has now decided to propose the described new concept for mandatory special redemptions and interest to all bondholders. A corresponding investor presentation will shortly be made available on the Company's website (https://investors.accentro.de/en/news/presentation). Notifying person: Thomas Eisenlohr, Head of Investor Relations
Berlin, 9 November 2023 The Management Board ISIN: DE000A0KFKB3 / DE000A3H3D51 / DE000A254YS5 Stock exchange: Frankfurt Stock Exchange, regulated market (Prime Standard) / Luxembourg Stock Exchange End of Inside Information
09-Nov-2023 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: | 1769887 |
| End of Announcement | EQS News Service |
|
|
1769887 09-Nov-2023 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
