“Restructuring case” Hertha BSC offers 10.5 percent interest
Hertha President Kay Bernstein (right) and coach Pal Dardai are planning for the second division. But that is difficult
Those: dpa/Soeren Stache
Relegated Hertha BSC has received the license for the second division. The lack of money among Berliners is still great. The investors in the capital club have correspondingly little trust. Therefore, Hertha increases the offer.
Dhe need in Berlin is still great: Hertha BSC, who have been relegated to the Bundesliga, wants to improve the terms of the offer again after the license was granted by the German Football League for the second division to extend a 40 million euro bond. So far far too few investors have agreed to extend their investment. According to the club, this is absolutely necessary.
“We are delighted to have received the license for the coming season. Nevertheless, the extension of the bond is an essential building block to ensure the economic ability to act. We therefore continue to urge all bondholders to agree to the proposed amendment to the bond terms and conditions in their improved version by June 19, 2023”; said the managing director of Hertha BSC GmbH & Co. KGaA, Thomas Herrich.
On May 22, Hertha announced that it wanted to extend the bond by two years. It has now been decided to improve the conditions offered. “There is agreement on this between our capital club and the two largest bondholders,” said a statement from the Bundesliga relegated team, which President Kay Bernstein had described as a “restructuring case”.
Only 22 percent agree
The adjustments would apply if the procedure was approved. They would include a rate hike to 10.5 percent pa instead of 8.5 percent from August 8th. It was originally 6.5 percent.
This agreement also applies to a possible further procedure that could be initiated if the current one does not reach the required quorum to adjust the bond terms. Currently, the approval of the bond extension until November 2025 is 22 percent. Dissenting voices are not yet known.
