Paragon GmbH & Co. KGaA will hold a second bondholders' meeting in person on December 19, 2025, after a written vote on proposed adjustments to its bond terms failed to reach the necessary participation quorum. The company had presented bondholders of its EUR bond [ISIN: DE000A2GSB86 / WKN: A2GSB8] with the issuer's proposal for a vote without a meeting from November 27 to 29, 2025. Participation reached only 3.00% of the total outstanding bonds, clearly missing the required threshold.
The second meeting is scheduled for 10 a.m. at the company's headquarters in Delbrück, specifically at the Hotel Waldkrug, Graf-Sporck-Strasse 34, 33129 Delbruck. A participation fee will be provided. Prior to this meeting, Paragon, together with the SdK - the German Shareholders' Association - will host another informational event, for which a separate invitation will be sent. Klaus Dieter Frers, founder and CEO of the personally liable partner of paragon GmbH & Co. KGaA, stated that the outcome of the first vote was not surprising. He expressed expectation that discussions with investors' protection associations and major bondholders would lead to broad approval at the second creditors' meeting.
This development is significant as it underscores the challenges companies can face in obtaining bondholder consent for financial restructuring outside of formal, in-person gatherings. The low participation in the written procedure suggests bondholders may prefer or require the forum of a physical meeting to engage with the proposal, potentially impacting the timeline and process for implementing any changes to the bond terms. The outcome of the December 19 meeting will be crucial for Paragon's financial strategy regarding this specific debt instrument. For more information about the company, please visit https://www.paragon.ag. The original press release is available on https://www.newmediawire.com.
