EQS-News

Ekosem-Agrar AG plans to restructure its outstanding corporate bonds

EQS-News: Ekosem-Agrar AG / Key word(s): Bond/Capital Reorganisation Ekosem-Agrar AG plans to restructure its outstanding corporate bonds 08.04.2024 / 08:07 CET/CEST The issuer is solely responsible for the content of this announcement. Ekosem-Agrar AG plans to restructure its outstanding corporate bonds

• The geopolitical situation as well as legal and administrative regulations make it extremely difficult for the German parent company to cooperate with its operating subsidiaries in Russia
• Noteholders are invited to vote on the sale of the bonds at a price of EUR 300.00 per bond (more than 165% above the average prices in the first quarter 2024)
• Joint Representative and Noteholders' Advisory Committee welcome the measure in principle and announced to examine the concept in more detail
• Preliminary figures for 2023: Sales revenue between EUR 735 and 790 million and EBITDA between EUR 160 and 195 million; consolidated financial statements for 2022 will be published shortly

Walldorf, 8 April 2024 - Ekosem-Agrar AG, the German holding company of Russian milk producer EkoNiva Group, plans to restructure its corporate bonds, the ESA bond 2012/2027 (ISIN: DE000A1R0RZ5 / WKN: A1R0RZ) and the ESA bond 2019/2029 (ISIN: DE000A2YNR08 / WKN: A2YNR0). The proposed measures essentially comprise the sale and transfer of the outstanding bonds including accrued interest at a purchase price of EUR 300.00 per bond with a nominal value of EUR 1,000.00.

Furthermore, the management plans to merge the German holding company with the operating business, which is based exclusively in Russia. To this end, it is planned to sell the shares held by German companies in the Russian intermediate holding companies to a Russian acquiring company. The current shareholders of Ekosem-Agrar AG will essentially hold the shares in the acquiring company. In this case, the company is asking the noteholders to waive the repayment option in the event of a change of control.