EQS-News
ESPG AG: Strong support for proposed resolutions to amended ESPG bond terms – next management call
- Strong support for proposed amendment to bond terms
- Positive feedback from bond investors
- Management call for bond investors on 14 March 2024
EQS-News: ESPG AG / Key word(s): Bond/Real Estate Strong support for proposed resolutions to amended ESPG bond terms – next management call |
- Positive feedback from bond investors to planned amendment to bond terms and conditions
- ESPG reminds investors to register by 15 March 2024 and to cast their votes from 18 March to 20 March 2024
- Management call on 14 March 2024 for bond investors
Cologne, 11 March 2024: The European Science Park Group (ESPG), a property company specialising in science parks, is making good progress in the registration process for its bondholders to
vote on the proposed amendment of the terms and conditions of the bond. The vote will take place between 18 March and 20 March 2024. Bondholders must register with the notary appointed as voting
supervisor by the company, Dr Johannes Beil, by the end of 15 March 2024 at the latest, and have to cast their votes from 18 March to 20 March 2024.
In discussions with diverse bondholders, the Management Board has so far received very positive feedback regarding the proposed suspension of the total LTV covenant as of 31 December 2023.
Bondholders with significant holdings in the bond have already signalled their consent also to the proposed resolution to authorise Mr Klaus Nieding as joint representative to suspend the total LTV
covenant for the year 2024, if necessary. Further details of the suggested process until the maturity of the bond in September 2026 will be published on the ESPG website in the next days.
Strong support for proposed amendment to the bond terms and conditions
Dr Ralf Nöcker, Management Board of ESPG AG, comments: "Following constructive discussions with bond investors, we expect a strong support for the suspension of the LTV covenant for the
previous year, should this turn out to be necessary. Nevertheless, we have realised that the registration process for the vote without meeting sometimes takes longer than expected by investors. We
therefore ask every bondholder to initiate the registration process as early as possible."