Noratis AG Schedules Investor Call Ahead of Bondholders' Meeting

Noratis AG, a key developer of residential properties in Germany, has announced portfolio devaluations amounting to EUR 31 million based on recent expert valuations. This write-down is approximately 6% of the market value of their property portfolio as of the end of 2023. Restructuring plans and market conditions have notably influenced these figures, leading to lower potential sales prices of certain properties.

An investor call will be held on 29 August 2024 to discuss the planned bond restructuring. The extension of the Noratis bond from 2020/2025 to 31 December 2028 is proposed to provide flexibility for future property sales, aiming to achieve higher cash inflows. Bondholders are urged to participate in the upcoming meeting on 10 September 2024, with necessary registrations due by 7 September 2024.