BRANICKS Group AG (ISIN: DE000A1X3XX4) announced that the holders of its EUR 400 million 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. The vote took place without a meeting pursuant to Section 18 of the German Bond Act from August 15, 2026, to August 17, 2026. Noteholders representing significantly more than 50% of the total outstanding principal amount participated, ensuring the quorum was met.
Key approvals include the appointment of MR Treuhand GmbH, Munich, as the joint representative for all noteholders. The joint representative is authorized to declare a waiver of certain termination rights and to forbear from demanding repayment of the bond due on September 22, 2026, until the completion of the planned comprehensive restructuring. 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 any potential challenges, the amendments will take effect after the one-month period for challenging the resolutions expires, through a supplement or amendment to the global certificate deposited with the relevant clearing system.
The extension of the maturity, along with planned short-term bridge financing of EUR 35 million, provides necessary time and financial flexibility for the comprehensive restructuring of the Company's financial liabilities. This aligns with the lock-up agreements signed on July 30, 2026, and effective as of July 31, 2026, with a group of bond and promissory note creditors. The next step involves a second vote without a meeting to address the comprehensive restructuring of the bond.
BRANICKS Group AG will continue to inform the capital markets of further developments regarding the restructuring in accordance with legal requirements. This announcement is crucial for investors and stakeholders as it indicates the company's proactive approach to managing its debt obligations and securing a path forward amidst financial challenges. The approval of these resolutions demonstrates a cooperative effort between the company and its creditors to avoid default and stabilize operations.
