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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.