BRIEF

on Aricolin Investments S.A. (isin : DE000A2R28T1)

Aricolin Investments Faces Bond Repayment Challenges

Aricolin Investments S.A., based in Madrid, has announced significant uncertainties regarding the repayment amount of its bearer bonds issued in 2019. Due to unexpected circumstances, the bonds, carrying ISIN DE000A2R28T1 and set to mature on March 31, 2025, may not be repaid at their full nominal value.

Current projections suggest a worst-case scenario where investors might receive approximately 61% of their capital. More optimistic scenarios estimate a return between 82% and 94%. In response, Aricolin Investments is preparing a proposal for bondholders, which includes extending the bond's term.

The final repayment amount and profit share heavily depend on the realization of disputed claims from project development. The issuer plans to share more details with bondholders next week.

R. P.

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