23.02.2022 15:21:59
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DGAP-News: Bond investors to vote on 10 March on extension with improved conditions
DGAP-News: paragon GmbH & Co. KGaA
/ Key word(s): Bond
Bond investors to vote on 10 March on extension with improved conditions Delbrück, 23 February 2022 - paragon GmbH & Co. KgaA is inviting investors in the 4.50% bond 2017/2022 (ISIN: DE000A2GSB86 / WKN: A2GSB8) to a second creditors' meeting at 10:00 a.m. on 10 March in Delbrück. The company has already been engaged in trusting dialogue with the relevant investors for several weeks about the details of the intended extension of the bond term. A number of creditors expressed a clear desire for a higher nominal interest rate and the possibility of more flexible, accelerated repayment conditions. paragon is open to this and will comment as soon as the proposed options have been formally presented and made public in the run-up to the second creditors' meeting. Fundamentally, paragon is striving for a consensual solution that is equally in the interest of the investors and the company. "We want to make our bondholders a good offer that will also allow them to participate in paragon's positive business development in the coming years. We expect a clear majority for a compromise proposal on 10 March. Even those who cannot attend will have the opportunity to cast their vote. The relevant forms will be available on our website shortly," said paragon CEO Klaus Frers. In addition, paragon is planning another investor conference with CEO Klaus Frers that is most likely to be held in the coming week. This will serve to bring all parties involved up to date on the latest developments regarding the compromise proposal that will be presented prior to the creditors' meeting. The exact dial-in details will be available on the paragon website in the near future. Corporate News of 20 January 2022: https://ir.paragon.ag/websites/paragon/English/4250/news-detail.html?newsID=2187674
In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech, Nuremberg (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany) as well as in Kunshan (China), Bangalore (India) and Oroslavje (Croatia). Additional information about paragon can be found at www.paragon.ag.
Capital Market & Press Contact
23.02.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | paragon GmbH & Co. KGaA |
Bösendamm 11 | |
33129 Delbrück | |
Germany | |
Phone: | +49 (0)5250 97 62 - 0 |
Fax: | +49 (0)5250 97 62 - 60 |
E-mail: | investor@paragon.ag |
Internet: | www.paragon.ag |
ISIN: | DE0005558696, DE000A2GSB86, |
WKN: | 555869, A2GSB8, |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1286917 |
End of News | DGAP News Service |
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1286917 23.02.2022
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