DGAP-News: Higher coupon and flexible, swift bond redemption planned

Higher coupon and flexible, swift bond redemption planned - Telco on 3 March before 10 March meeting

Delbrück, 25 February 2022 - paragon GmbH & Co. KGaA will provide information about the talks with investors on the upcoming extension of the 4.50% bond 2017/2022 (ISIN: DE000A2GSB86 / WKN: A2GSB8) during a conference call on 3 March.

In this way, all creditors will receive a comprehensive overview of investor feedback as well as important information on the company's current business development in the run-up to the creditors' meeting on 10 March at 10.00 a.m. in Delbrück.

"In recent weeks, we have been in close dialogue with our bond investors and we now have a clear picture of how our investors will accompany paragon's growth course," said paragon CEO Klaus Frers.

A concept has been developed covering the key points of the future bond structure and, as a result, a clear majority is emerging for the consensual solution sought by the management at the meeting on 10 March.

In essence, the company will advocate a bond structure that, in addition to a significantly higher nominal interest rate dependent on business success, also includes an accelerated repayment in any case. Of course, repayment models proposed by investors that offer more flexibility for bondholders will also be taken into account.

In the meantime, the result of the plausibility check of our business planning by the consultancy Dr. Wieselhuber & Partner has also been made available. Wieselhuber concludes that paragon's planned revenue and earnings up to 2026 are plausible and achievable after overcoming the current problems with regard to refinancing. Bondholders can request a detailed extract of the report from the company; for reasons of confidentiality, proof that EUR bonds are held is required.

paragon CEO Klaus Frers will provide information on the current status of the talks and a possible compromise proposal during a conference call on 3 March from 5.00 p.m. The exact dial-in details will be available on the paragon website in due course.

 

Profile: paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. In the rapidly growing automotive market for battery systems, paragon now acts independently with the Business Unit Power after the sale of the Voltabox share.

In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech, Nuremberg (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany) as well as in Kunshan (China), Bangalore (India) and Oroslavje (Croatia).

Additional information about paragon can be found at www.paragon.ag.

Capital Market & Press Contact

paragon GmbH & Co. KGaA

Mirko Wollrab
M: +49 172 830 3600
mailto: mirko.wollrab@corecoms.de
Corecoms Consulting GmbH & Co. KG
Goethestraße 29
60313 Frankfurt am Main