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. The vote, conducted without a meeting pursuant to Section 18 of the German Bond Act from August 15 to August 17, 2026, saw participation from noteholders representing significantly more than 50% of the total outstanding principal amount, exceeding the required quorum. Each resolution was passed with the required qualified majority of at least 75% of votes cast.
Key approvals include the appointment of MR Treuhand GmbH, Munich, as the joint representative for all noteholders. This representative is authorized to declare 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. Additionally, noteholders approved an amendment to the bond terms extending the maturity to December 31, 2026, with an option to extend 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. The approved extension, combined with planned short-term bridge financing of EUR 35 million, provides the necessary time and financial flexibility for the comprehensive restructuring of the Company's financial liabilities, as agreed upon in lock-up agreements signed on July 30, 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. The Company will inform the capital markets of further developments in accordance with legal requirements. This approval marks a critical step in the company's efforts to stabilize its financial position and avoid potential default, highlighting the cooperative approach between the company and its creditors.
