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Latham Advises ACCENTRO on New Structuring of Bond

January 26, 2024
German corporate finance team represents real estate investor in successfully amending the terms of the Bond 2020/2026.

Latham & Watkins has advised ACCENTRO Real Estate AG (ACCENTRO), an investor in residential real estate and Germany’s leading housing privatization company, on the new structure of its 2020/2026 bond, which was implemented in accordance with the German Bond Act (Schuldverschreibungsgesetz).

At the end of November 2023, the bondholders approved ACCENTRO's proposed resolution on a new concept for mandatory special redemptions and interest by a clear majority. This includes the postponement of mandatory special redemptions and the deferral of the interest payment scheduled for February 2024. The amended terms and conditions are in effect.

Latham & Watkins previously advised ACCENTRO in December 2022 on the refinancing of the 2020/2023 bond (now 2020/2026), implemented in accordance with the German Bond Act (Schuldverschreibungsgesetz), and the 2021/2026 bond (now 2021/2029).

The Latham team was led by Hamburg partner Frank Grell and Frankfurt counsel Daniel Splittgerber, with Frankfurt partner Jan Penselin and associates Marcel Endrich and Laura Neumann. 

Endnotes

    Contacts

    Grell, Frank

    Frank Grell

    Hamburg
    frank.grell@lw.com +49.40.4140.30
    Splittgerber, Daniel

    Daniel Splittgerber

    Frankfurt / Hamburg
    daniel.splittgerber@lw.com +49.69.6062.6553