Deutsche Konsum REIT-AG Nears Extension Agreement on Short-term Corporate Bonds

Deutsche Konsum REIT-AG (DKR), a property investment company, is currently in the final stages of negotiations with bondholders to extend the maturities of two of its corporate bonds. The ongoing discussions pertain to an unsecured bond set to mature on April 5, 2024, holding an outstanding nominal value of EUR 70 million, and another bond maturing on May 31, 2024, which is secured by DKR, with a total nominal value of EUR 35.9 million.

The management expects to finalize the extension agreements by the end of April 2024. However, these negotiations are still subject to uncertainties, including the need for approval from the Supervisory Board. As an interim measure, the maturity date of the first bond has been postponed by one month to May 3, 2024, with the agreement from the bondholders.