BRANICKS Group AG (ISIN: DE000A1X3XX4) announced that the holders of its EUR 400,000,000 corporate bond (Green Bond) 2.250% 2021/2026 (ISIN: XS2388910270 – WKN A3MP5C) have approved all resolutions proposed by the Company, each by the required qualified majority of at least 75% of the votes cast, as part of the vote without a meeting pursuant to Section 18 of the German Bond Act. The vote took place from August 15, 2026, to August 17, 2026. Noteholders representing significantly more than 50% of the total outstanding principal amount of the bonds participated, reaching the required quorum.
The approved resolutions include the appointment of MR Treuhand GmbH, Munich, as the joint representative of all noteholders. This representative is authorized to declare, on behalf of all noteholders, a waiver of certain termination rights and a forbearance from demanding repayment of the bond due on September 22, 2026, until the completion of the planned comprehensive restructuring, which will be resolved in a further vote. Additionally, the noteholders approved an amendment to the bond terms extending the maturity to December 31, 2026, with an option to extend further to March 31, 2027.
The full text of the resolutions will be published in the Federal Gazette. Subject to potential challenges, the amendments will take effect after the one-month challenge period expires, through a supplement or amendment to the global certificate deposited with the relevant clearing system.
This development is significant as it provides the necessary time and financial flexibility for BRANICKS Group AG to implement its planned comprehensive restructuring of financial liabilities, as agreed in the lock-up agreements signed on July 30, 2026, and effective July 31, 2026, with a group of bond and promissory note creditors. The approved extension, combined with the planned short-term bridge financing of EUR 35 million, is crucial for the company to proceed with its restructuring efforts.
The next step involves a second vote without a meeting to address the comprehensive restructuring of the bond. The company will keep the capital markets informed of further developments in accordance with legal requirements.
