BRANICKS Group AG has announced that the holders of its EUR 400 million green bond have approved all proposed resolutions, including the appointment of a joint representative and an extension of the bond's maturity. This decision comes as part of the company's efforts to implement a comprehensive restructuring of its financial liabilities.
The vote, conducted without a meeting pursuant to Section 18 of the German Bond Act, took place from August 15 to August 17, 2026. Noteholders representing significantly more than 50% of the total outstanding principal amount participated, exceeding the quorum required for a valid vote. Each resolution was approved by the required qualified majority of at least 75% of the votes cast.
Key resolutions include the appointment of MR Treuhand GmbH, Munich, as the joint representative of all noteholders. The joint representative has been 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 bond terms have been amended to extend the maturity to December 31, 2026, with an option to extend further to March 31, 2027.
The approved extension, along with planned short-term bridge financing of EUR 35 million, provides the necessary time and financial flexibility to implement the restructuring agreed upon in lock-up agreements signed on July 30, 2026, with a group of bond and promissory note creditors. The next step will be a second vote without a meeting to address the comprehensive restructuring of the bond.
The full text of the resolutions will be published in the Federal Gazette. Subject to potential challenges, the amendments will take effect after the expiration of the one-month period for challenging the resolutions. BRANICKS Group AG will continue to inform the capital markets of further developments in accordance with legal requirements.
