Booster Precision Components GmbH Explores New Bond Issue

Booster Precision Components GmbH, based in Frankfurt, announced on May 13, 2024, its plans to consider issuing additional senior secured callable bonds valued at EUR 18 million under its bond framework with ISIN NO0012713520 maturing in 2026. The company has appointed Pareto Securities AS as the sole bookrunner for this potential issuance.

The intended bond issuance aims to finance the repayment of subordinated loans and associated costs, including any redemption premiums and accrued unpaid interest. Additionally, it will cover expenses related to the consulting process for gaining bondholder approval.

To facilitate this process, Booster Precision Components has initiated a "Written Procedure" to seek bondholder consent for utilizing the raised funds primarily for repaying certain subordinated loans amounting to EUR 15 million. In return for bondholder approval, the company proposes a consent fee of 1.00% per bond. Support for this proposal has already been secured from holders representing over 60% of the Bonds’ nominal amount.

The process for bondholder voting was detailed, stating that the records for eligible voters would close on May 16, 2024, with the final vote set for May 28, 2024.