on ESTAVIS AG (isin : DE000A0KFKB3)
ACCENTRO Real Estate AG Concludes 'No Action Letter' with Bondholder
Berlin, 22 May 2024 – ACCENTRO Real Estate AG has announced an agreement with the bondholder of its 2021/2029 bond through the conclusion of a "no action letter". The bond, identified as ISIN DE000A3H3D51, will not be subject to termination due to breaches in limitations on net financial indebtedness and reporting obligations.
The letter includes provisions requiring third-party validations and the Company's commitment to achieve specific milestones. Furthermore, a restructuring solution will be negotiated with bondholders in the coming months. The provisional term of this agreement is set until 14 July 2024.
The bondholder's agreement is premised on ensuring equal treatment for the 2020/2026 bond (ISIN DE000A254YS5) and the 2021/2029 bond in subsequent negotiations regarding adjustments to the Company's capital structure.
R. P.
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