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Coupon of 5.875% will be reduced to 1.000% - Praktiker AG plan Haircut
Bond price collapses
Practical plans for its outstanding bond a haircut. This should be in the form of a significant reduction in interest rates. Is the call of the Board of all holders of the bonds to be publicly known as a vote without a meeting, during the period of 22 to 25 Take place in March 2012 under notarial leadership is. To vote on the proposal, the interest on the loan with effect from 10 Decrease in February 2012 until the end of the term in 2016 to 1.0 percent annually. Until now, the uncommitted interest rate is 5.875 percent per year.
"With the end of 2011 initiated the restructuring process is to secure long-term survival of the company and the foundation for future profitable growth down," said the CEO of Praktiker AG, Thomas Fox. "The success of this process it is important that all stakeholders make a reasonable budget cut. This includes the company's banks and credit insurers, shareholders, and ask their own staff and the bondholders of Praktiker AG, we hereby consent to the proposed reduction in interest rates. This would be a positive signal to potential other lenders with whom we stand for several weeks in intensive, promising negotiations over new money for practitioners. " It is for the unnamed recorded owner of a total of 250,000 bonds, which have a par value of 1,000 € and are traded on the Luxembourg Stock Exchange. You must be within the voting period (March 22, 2012, 00:01 clock until March 25, 2012, 00:01 clock) cast their votes in the voting director, Dr. Paul Hamburg notary-Joachim von Wissel, by mail, fax, by e-mail or otherwise submitted in writing. For more information on the procedure are stored on the Internet on the homepage of the Praktiker Group (Praktiker - Start) under "Investor Relations". The release of the solicitation of proxies in the electronic Federal Gazette will be for tomorrow
Coupon of 5.875% will be reduced to 1.000% - Praktiker AG plan Haircut
Bond price collapses
Practical plans for its outstanding bond a haircut. This should be in the form of a significant reduction in interest rates. Is the call of the Board of all holders of the bonds to be publicly known as a vote without a meeting, during the period of 22 to 25 Take place in March 2012 under notarial leadership is. To vote on the proposal, the interest on the loan with effect from 10 Decrease in February 2012 until the end of the term in 2016 to 1.0 percent annually. Until now, the uncommitted interest rate is 5.875 percent per year.
"With the end of 2011 initiated the restructuring process is to secure long-term survival of the company and the foundation for future profitable growth down," said the CEO of Praktiker AG, Thomas Fox. "The success of this process it is important that all stakeholders make a reasonable budget cut. This includes the company's banks and credit insurers, shareholders, and ask their own staff and the bondholders of Praktiker AG, we hereby consent to the proposed reduction in interest rates. This would be a positive signal to potential other lenders with whom we stand for several weeks in intensive, promising negotiations over new money for practitioners. " It is for the unnamed recorded owner of a total of 250,000 bonds, which have a par value of 1,000 € and are traded on the Luxembourg Stock Exchange. You must be within the voting period (March 22, 2012, 00:01 clock until March 25, 2012, 00:01 clock) cast their votes in the voting director, Dr. Paul Hamburg notary-Joachim von Wissel, by mail, fax, by e-mail or otherwise submitted in writing. For more information on the procedure are stored on the Internet on the homepage of the Praktiker Group (Praktiker - Start) under "Investor Relations". The release of the solicitation of proxies in the electronic Federal Gazette will be for tomorrow
