PAUL Tech extends 35 million EUR bond until 2028

PAUL Tech AG has reached an agreement with creditors to reorganize its 35 million EUR bond (ISIN: DE000A3H2TU8). The bond, originally due in 2026, has been extended to a new maturity date of September 1, 2028.

Under the new terms, the annual coupon will increase to 10% starting December 1, 2026, with interest paid semi-annually. To provide additional returns, the company will repay 113% of the nominal amount at the end of the term. The agreement also mandates partial repayments before the final maturity date.

To secure the debt, the company must use at least 30% of any newly raised equity for early bond repayments. Additionally, the majority shareholder will provide security through a pledge of approximately 7.5% of the share capital. Gustav Meyer has been appointed as the common representative for the creditors.