Timeless Homes reports the extension of the bond, which actually became due for repayment on July 1, 2020. The term of the bond will be “extended to June 30, 2023 and the payment modalities of the interest payments will be adjusted,” announced the company from Munich on Thursday. The company’s creditors have passed a corresponding resolution. “At today’s second creditors’ meeting, 39.96 percent of bond investors were represented, of which 99.70 percent voted for the prolongation and the adjustment of the bond conditions,” said Timeless Homes.
The interest on the bond is still 9.00 percent per year. The interest will now be paid out in mid-2023, together with the repayment amount, according to the plan. “Timeless Homes GmbH also has the option to prematurely terminate the outstanding bonds at six-monthly intervals, for the first time in mid-2021, and to repay them including the pro-rata interest,” says the company.
Livestream on December 14th, 2020 from 6 p.m .:
With Hans-Werner Sinn, former President of the Ifo Institute: Corona and the miraculous increase in money in Europe
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