Branicks Group AG has reached a key milestone in its balance sheet consolidation. Creditors of the corporate bond originally due in 2026 with a volume of EUR 400 million voted in favour of restructuring the liabilities with a clear majority of 99 percent of the votes cast. With this step, creditors are standing firmly behind the restructuring concept prepared by the company.
Extension of maturities until 2030 and 2038
In addition to the aforementioned bond, the restructuring programme also encompasses existing liabilities from promissory note loans and registered bonds. The agreement reached significantly relieves the company's maturity profile and divides the outstanding amounts into two long-term horizons.
- —Liabilities totalling EUR 375 million are being extended until 30 September 2030.
- —A further tranche of EUR 220 million receives a new maturity date of 30 September 2038.
- —The affected corporate bond from 2026 with a volume of EUR 400 million is integrated into this restructuring.
Josef Schultheis, Chief Restructuring Officer of Branicks Group AG, described the clear vote as a substantial vote of confidence in the presented concept. Thanks to the relief in timing achieved, the company can now once again focus entirely on its operational business. The objective is to deploy existing substance and professional expertise to seize market opportunities in what remains a demanding sector environment.
Implementation period and realignment of consultancy contracts
Before the restructuring measures finally take effect, formal and technical execution requirements must still be satisfied in the coming weeks. According to management plans, the entire restructuring concept is to become effective by the end of the 2026 financial year, or by 31 March 2027 at the latest.
In the course of the restructuring, the company also terminated existing advisory agreements with two external partners by mutual consent. This applies to MDC Matthias Danne Consulting GmbH as well as BLACKLAKE Management Partners GmbH, whose managing directors are Branicks supervisory board members Dr Matthias Danne and Dr Johannes Conradi.
Both consultancy firms have informed the company that, in return, they have concluded corresponding service contracts with a company financed by the creditors.
