Brief: Paragon Welcomes Investor Proposal For Higher Coupon And More Flexible Bond Redemption

paragon GmbH & Co KgaA

01/03/2022 13:59

March 1 (Reuters) - PARAGON GMBH & CO KGAA  PGNG.DE :
    * WELCOMES INVESTOR PROPOSAL FOR HIGHER COUPON AND MORE
FLEXIBLE
BOND REDEMPTION
    * PROPOSAL INCLUDES AN INCREASE OF INTEREST RATE FROM
CURRENTLY
4.5% TO 6.25%, WHICH WILL THEN NO LONGER BE PAID ANNUALLY BUT
SEMI-ANNUALLY
    * WILL BE OBLIGED TO MAKE EARLY PARTIAL REPAYMENTS TOTALING
EUR 25
MILLION
    * FIRST PROPOSED DATE IS REPAYMENT DATE OF SWISS BOND ON 23
APRIL
2023
    * DIVIDEND POLICY IS TO BE TIGHTENED WITH A CLEAR LIMITATION
OF
POSSIBLE DISTRIBUTIONS TO ONLY 20% OF BALANCE SHEET PROFIT

Source text for Eikon:  ID:nEQb94kJWa 
Further company coverage:  PGNG.DE 

 (Gdansk Newsroom)
 ((Gdansk.Newsroom@thomsonreuters.com;))