ABO Energy Seeks Bondholder Approval in Upcoming Meeting

ABO Energy GmbH & Co. KGaA's initial vote regarding its 2024/2029 bond amendments achieved the required majority, yet failed to meet the 50% participation threshold. Only 38% of bondholders participated. Consequently, the company will hold a second in-person vote on March 9 at the Wiesbaden Chamber of Industry and Commerce. This time, a quorum requires just 25% participation.

CFO Alexander Reinicke expressed optimism, urging bondholders to support the restructuring plan. The proposed amendments include waiving the negative pledge, suspending termination rights, and appointing a joint representative to aid negotiations.

For the March meeting, bondholders must register in advance and provide a special certificate from their custodian bank. Alternatively, they can authorize a proxy to vote on their behalf.