sur Noratis AG (isin : DE000A2E4MK4)
Noratis AG Convenes Bondholders' Meeting for Extension of 2020/2025 Bond
Noratis AG, a major developer of residential property portfolios in Germany, has announced a bondholders' meeting to consider extending its 2020/2025 bond. The management board, supported by the supervisory board, seeks to address repayment risks due to the challenging real estate market.
The proposed plan includes extending the bond's maturity to 31 December 2028 and appointing e.Anleihe GmbH as the new joint representative. This extension aims to provide Noratis AG with flexibility for property sales, potentially improving sale conditions when the market rebounds.
Merz Real Estate GmbH & Co KG, which holds 65.1% of Noratis shares, backs the plan with commitments of cash contributions and potential capital increases. Discussions have also started for extending the 2021/2027 bond until 2029.
Bondholders are urged to participate in the meeting scheduled for 10 September 2024 in Eschborn. Further details and necessary forms are available on the Noratis AG website.
R. H.
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