Creditors Vote To Extend Maturity And Pave Way For Restructuring

BRANICKS AG

Tue 09:40

       Oct 20 (Reuters) - BRANICKS GROUP AG  BRNKn.DE :
    * CREDITORS VOTE TO EXTEND MATURITY AND PAVE WAY FOR
RESTRUCTURING
    * CREDITORS VOTE 99% IN FAVOR OF RESTRUCTURING THEIR
SECURITIES
    * RESTRUCTURING PLAN IS SET TO TAKE EFFECT BY END OF 2026
    * TERMINATES CONSULTING AGREEMENTS WITH MEMBERS OF
SUPERVISORY BOARD
    * HOLDERS OF €400 MILLION BOND ORIGINALLY DUE 2026 VOTE FOR
RESTRUCTURING
    * NEW MATURITY DATE FOR €375 MILLION IS SEPT 30, 2030; €220
MILLION IS SEPT 30, 2028

    Source text:  ID:nEQ1qRnzNa 
    Further company coverage:  BRNKn.DE 

    (Gdansk Newsroom)
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