on Schutzgemeinschaft Der Kapitalanleger E.V.
SdK Calls for Unity Among Paragon Bondholders Amid Financial Proposals
The Schutzgemeinschaft der Kapitalanleger e.V. (SdK), a leading German investor association, has urged bondholders of Paragon GmbH & Co. KGaA to consolidate their interests. Paragon recently proposed to extend its 2017/2027 bond by four years, defer the January 2026 interest payment, and abolish the PIK interest. The vote on these changes will occur from November 27 to 29, 2025.
Despite the challenges in the automotive industry, the SdK notes Paragon's positive development in recent years. Still, it highlights the difficulty of refinancing in 2027 under current market conditions. The association considers the proposed maturity extension reasonable but disagrees with eliminating PIK interest, emphasizing the need for adequate compensation for bondholders.
Bondholders are encouraged to collaborate. SdK offers resources like newsletters and a free proxy voting service. An informational virtual event is planned for November 18, 2025, with Paragon's CEO, Klaus Dieter Frers, set to participate.
R. H.
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