PAUL Tech AG seeks two-year extension for EUR 35 million bond

PAUL Tech AG is seeking to extend the maturity of its EUR 35 million bond (ISIN: DE000A3H2TU8) by two years, moving the final maturity date from December 1, 2026, to December 1, 2028.

The company plans to maintain a 9.00% annual interest coupon during the extension period. Under the proposal, two partial repayments of 10% of the nominal amount each would occur on February 1 and December 1, 2027, with the remaining 80% due on December 1, 2028. The company also intends to extend the option for early repayment at 101% until November 30, 2028.

The extension is driven by ongoing discussions with equity investors, whose funds are intended to help repay the bond. Additionally, delays in contract negotiations with major customers have pushed the rollout of the company’s ‘PAUL Net Zero’ heating solution into the second or third quarter of 2026. The extra time is intended to allow for the product rollout and subsequent refinancing based on improved financial metrics. The proposal requires approval from bondholders, which the company intends to seek via a vote without a formal meeting.