Booster Precision Seeks Court Approval for Restructuring Plan

Booster Precision Components Holding GmbH announced an agreement with the Ad hoc Group regarding a refinancing strategy, aiming to notify a local court of its restructuring plan under Germany's StaRUG framework. This plan seeks to stabilize the company’s financial position.

Key elements of the strategy include restructuring the company’s senior secured corporate bond, maturing in November 2026, with bondholders representing over 50% of this bond's nominal amount. The restructuring plan involves a partial waiver and reduction of the bond's principal amount.

Additionally, interim financing will be sought to support liquidity, involving bondholder consent for various payment postponements and amendments. Booster Precision assures that the plan will not impact customers, suppliers, or employees and aims for completion before the bond's maturity.