Booster Precision Components initiates bondholder procedure

Booster Precision Components Holding GmbH has initiated a written procedure for the bondholders of its Nordic Bonds 2022/26. The move follows deferred interest payments scheduled for May 28 and August 28, 2026, which constitute grounds for termination under the bond terms. Additionally, a security provided by a subsidiary in a factoring agreement has exceeded permitted limits, creating further grounds for termination.

The written procedure, with a final voting date of September 22, 2026, aims to allow bondholders to approve changes to bond and financing terms. These changes are necessary to implement a bridge financing arrangement with priority security. Booster has reached a fundamental agreement on a refinancing concept with an ad-hoc group of bondholders and has informed the competent court in Hannover regarding a restructuring plan under the StaRUG framework. This group has pledged a priority-secured bridge loan of 3 million euros to be used for general corporate purposes and the refinancing of certain financial liabilities. A standstill agreement with the ad-hoc group remains in effect until October 1, 2026.