PANDION AG has announced that the interest payment for its 2021/2028 corporate bond (ISIN DE000A289YC5 – WKN A289YC), due on 5 August 2026, will not be made punctually for the time being. This decision stems from an unexpected liquidity gap, caused by a financing component being withdrawn by a financing partner. The withdrawal occurred contrary to the company's previous expectations.
The company is actively working to close the resulting liquidity gap and to service the outstanding interest payment. In this context, PANDION AG is holding discussions with relevant financing partners and examining various options to secure the necessary funds. The current situation requires a strategic reorientation of the financing structure to meet contractual obligations.
Background to the Delay
The unexpected withdrawal of a committed financing component represents the core of the current challenge. Such events can have significant short-term impacts on a company's liquidity planning, especially if they are not anticipated. PANDION AG was therefore compelled to take this measure to allow for a thorough review and adjustment of its financing strategy.
The precise circumstances and details that led to this development, as well as the specific steps to address the situation, will be explained by PANDION AG in a comprehensive bondholder webcast. This webcast is scheduled for 1 September 2026 and aims to provide bondholders with detailed insight into the current situation and the planned measures. The reasons behind the decision will also be disclosed there to ensure transparency towards the capital providers.
The company's management is working on a solution that secures both short-term liquidity and long-term stability of the corporate financing. The focus is on remedying the liquidity bottlenecks as quickly as possible and servicing the outstanding interest obligations, to maintain bondholders' trust and continue business operations as usual.
