Paragon GmbH & Co. KGaA announced it will conduct a second bondholders' meeting in person on December 19, 2025. This follows a failed written vote on proposed adjustments to the terms of its EUR bond [ISIN: DE000A2GSB86 / WKN: A2GSB8]. The company had presented bondholders 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, which clearly missed the required threshold for approval.
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 Delbrück. A participation fee will be provided to attendees. Prior to this formal meeting, Paragon, together with the SdK - the German Shareholders' Association - will host another informational event for bondholders. A separate invitation will be sent for this preliminary gathering.
Klaus Dieter Frers, founder and CEO of the personally liable partner of Paragon GmbH & Co. KGaA, commented on the initial vote's outcome. He stated that the result was not surprising given the circumstances. Frers expressed expectation that discussions with investors' protection associations and major bondholders would lead to broad approval at the second creditors' meeting scheduled for December.
This development carries significant implications for corporate debt restructuring processes. The low participation in the written procedure suggests bondholders may prefer or require the forum of a physical meeting to properly engage with complex financial proposals. This preference for in-person gatherings could impact both the timeline and procedural efficiency for implementing changes to bond terms across various debt instruments.
The outcome of the December 19 meeting will be crucial for Paragon's financial strategy regarding this specific debt instrument. The company's approach to obtaining bondholder consent may influence how other firms structure similar restructuring efforts in the future. For additional context about the company's operations, further information is available at https://www.paragon.ag. The original announcement detailing these developments was published through https://www.newmediawire.com.
