Fourcore Tech Finance: Update on Bond Coupon Payment

Fourcore Tech Finance Ltd. announced it will miss the interest payment deadline on its 10.25% bond due 2024/2029, ISIN DE000A3L2B98. The company confirmed that the payment will not occur within the 30-day grace period, initially expected.

The management is actively working to make the payment by next week. If this is not achievable, the company plans to initiate a written resolution under the German Bond Act (SchVG), allowing bondholders to vote on potential measures for the note's capital structure. This may include converting the bonds into equity.

Despite the delay, Fourcore Tech Finance continues its operations as usual, maintaining communication with advisers and principal bondholders to ensure transparency and orderliness in the process.