Nicht kategorisiertDeal Announcement: R-Logitech
Pressemitteilung – Erfolgreiche Restrukturierung der Anleihe der R-Logitech S.A.M

Deal Announcement: R-Logitech

Munich/Frankfurt, 24 February 2023 – Investment bank Houlihan Lokey and German law firm DMR Legal inform the bondholders of the EUR 200.000.000,00 8,50% corporate bond 2018/2023 issued by R-Logitech S.A.M. (ISIN: DE000A19WVN8 / WKN: A19WVN; „R-Logitech Bond 18/23“) as follows:
  • A group of institutional bondholders of the R-Logitech Bond 18/23 have formed an ad hoc group („Ad Hoc Group“) representing a significant amount of the outstanding bond.
  • The Ad Hoc Group has engaged Houlihan Lokey as financial advisor and DMR Legal as legal advisor for the negotiations with R-Logitech S.A.M.
  • The Ad Hoc Group is in contact with retail bondholders organized by German investor organization SdK.

R-Logitech S.A.M. („R-Logitech“ or the „Company“) has announced on 20 February 2023 that they will not be able to repay the R-Logitech Bond 18/23 due on 29 March 2023. Therefore R-Logitech invited the bondholders to a vote without meeting between 7 and 9 March 2023. In this vote the bondholders shall agree to extend the maturity of the R-Logitech Bond 18/23 to enable a possible refinancing of the bond and other assets of the Company. In return, the interest rate for the three additional months shall be increased from 8.5% to 10.25%. Besides that, the proposal does not provide for any additional provisions in favor of the bondholders. Additional security mechanisms, granting of collateral, the vote of a common representative or similar are not provided.

Large institutional bondholders of R-Logitech have organized and formed the Ad Hoc Group to engage with the company requesting more transparency as basis for a discussion about a possible extension of the bond. The Ad Hoc Group consists of larger institutional investors and is reaching a relevant size for the success of a restructuring process. The Ad Hoc Group has engaged Houlihan Lokey as financial advisor and DMR Legal as legal advisor. Both firms were advising bondholders in the recent Metalcorp restructuring and are familiar with the group as well as with the other advisors involved.

In addition the Ad Hoc Group is in constant contact to retail bondholders organized by the German investor organization Schutzgemeinschaft der Kapitalanleger e.V. („SdK“).

Bondholders interested to join the Ad Hoc Group or exchange views are invited to contact either Houlihan Lokey or DMR Legal as follows:
DMR.Legal: Rechtsanwalt Dr. Tobias Moser
Houlihan Lokey

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