EQS-News

Ekosem-Agrar AG plans to restructure its outstanding corporate bonds - Seite 2

In addition, talks are currently being held with potential equity investors in Russia who intend to invest up to EUR 100 million in the acquiring company. All investors are making their investment subject to the above-mentioned restructuring of the bonds and the sale of the intermediate holding companies to a Russian company.

Ekosem-Agrar AG invites its noteholders to a noteholders' meeting on May 2, 2024 at 10:00 a.m. for the bearer bonds 2012/2027 (ISIN: DE000A1R0RZ5) and on May 2, 2024 at 2:00 p.m. for the bearer bonds 2019/2029 (ISIN: DE000A2YNR08) in Wiesloch to explain the background to the proposed measures and the adjustment of the respective bond terms and conditions and for the purpose of passing resolutions. The invitation is published in the Federal Gazette (“Bundesanzeiger”) on 8 April and is available on the company's website, including the required registration documents and explanatory FAQs.

Stefan Dürr, CEO of Ekosem-Agrar AG: "We believe that the proposed sale of the bond is a good, albeit painful, opportunity for the noteholders in view of the general conditions. In our view, the proposed restructuring and the merger of the holding company with the operating subsidiaries in Russia, from where the Group is managed anyway, are the right steps to preserve our operating business and ensure the Group's continued existence. Our bonds have been an important financial pillar in building up our business since 2012, combined with an attractive return for our noteholders. With political developments still uncertain, we believe a sale of the ESA bonds at a price of more than 165% above the average prices in the first quarter 2024 is an attractive offer for investors to recover at least parts of their original investment."

e.Anleihe GmbH, the Joint Representative appointed for both corporate bonds, as well as the Noteholders' Advisory Committee constituted in 2022, consisting of larger investors and a representative of Schutzgemeinschaft der Kapitalanleger e.V. (SdK), welcome the proposed measures in principle given the political situation and the development of stock market bond prices and have announced that they will examine the concept presented in more detail.