Disclosure of Inside Information Pursuant to Article 17 of Regulation (EU) No. 596/2014
Berlin, May 10, 2024 – ACCENTRO Real EstateAG (the “Company”) announces that a group of significant bondholders of the 2020/2026 Bond (ISIN DE000A254YS5 / WKN A254YS, the “2020/2026 Bond”), representing a total of approximately 41.6% of the bond principal, has signed a so-called standstill agreement (so-called “no action letters”).
Essentially, the standstill agreement is intended to preclude termination of the bond due to a breach of the restrictions on net financial liabilities set forth in the bond terms and conditions, as well as the agreed-upon reporting obligations and corresponding enforcement actions. In addition, the standstill agreement essentially contains the following provisions: The provision of certain third-party validations as a condition for effectiveness; the Company’s obligation to meet certain milestones, including specific commitments to prepare a restructuring solution to be negotiated with the respective bondholders in the coming months; and a provisional term until July 14, 2024.
Negotiations with the bondholder of the 2021/2029 Bond (ISIN DE000A3H3D51 / WKN A3H3D5, “2021/2029 Bond”) regarding a corresponding standstill agreement are proceeding constructively and positively. However, a final agreement on all commercial and legal issues has not yet been reached.
The Management Board and the Company’s advisors are working intensively to bring the negotiations with the bondholder of the 2021/2029 Bond to a successful conclusion as well, so that this standstill agreement can also be implemented in a legally binding manner in a timely manner.
Person Issuing the Announcement:
Thomas Eisenlohr, Head of Investor Relations
Tel.: +49 (0)30 887181272
eisenlohr@accentro.de
Berlin, May 10, 2024
The Executive Board: ACCENTRO Real Estate AG Kantstraße 44/45 D-10625 Berlin
ISIN: DE000A0KFKB3 / DE000A3H3D51 / DE000A254YS5
Stock Exchanges: Frankfurt Stock Exchange, Regulated Market (Prime Standard) / Luxembourg Stock Exchange
Investor Relations Contact:
Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstraße 44/45
10625 Berlin
Email: eisenlohr@accentro.de
Phone: +49 (0)30 88 71 81 272