BRANICKS Group AG has concluded lock-up agreements with significant creditor groups. These agreements cover holders of an unsecured bond with an outstanding nominal amount of EUR 400 million, due in September 2026, as well as creditors of promissory note loans and registered bonds with a total nominal amount of EUR 179.5 million and maturities between 2026 and 2031. The primary objective of these measures is the extension and restructuring of existing financial liabilities under adjusted conditions.
An ad-hoc group participating in the agreements currently holds 60.4 per cent of the total outstanding nominal amount of the aforementioned bond. For creditors of promissory note loans and registered bonds who have signed the lock-up agreement, the represented share stands at over 90 per cent of the total outstanding nominal amount. These high participation rates underscore the broad acceptance of the planned restructuring measures within creditor circles.
Conditions for the Effectiveness of the Restructuring
The effectiveness of essential provisions of the lock-up agreements, including the commitment to support the entire transaction, is subject to certain conditions precedent. These conditions must be met by the end of July 2026 at the latest to ensure the implementation of the agreed restructuring.
- —The departure of the Chairman of the company's Supervisory Board from his office.
- —The appointment of Mr Josef Schultheis as Chief Restructuring Officer (CRO) and member of the company's Management Board.
- —The adherence of holders of promissory note loans and registered bonds, representing 100 per cent of the total outstanding amount, to the lock-up agreement.
The fulfilment of these conditions is crucial for the progress of the restructuring process and the creation of a stable financial foundation for BRANICKS Group AG. The strategic realignment through the appointment of a Chief Restructuring Officer and comprehensive consensus-building with all relevant creditors are central elements of this development. This reflects the company's diligent approach to addressing its financial challenges.
The adopted measures aim to secure the company's long-term financing and adapt the capital structure to current market conditions. This creates the prerequisites for the continued operational business activities of BRANICKS Group AG in the real estate segment. The precise drafting of the agreements and the transparent communication processes with creditors are of importance in this regard.
