The Grounds Real Estate Development AG Converts Bond to Hybrid

The Grounds Real Estate Development AG has announced the conversion of its EUR 17 million bond into a hybrid bond in collaboration with H.I.G. Capital. This move follows the original issuance of the bond in 2023/2024. As a hybrid bond, it will now be treated as equity in the company's IFRS consolidated financial statements, enhancing their equity standing. The term of the bond is now perpetual, with repayments occurring only at the company's discretion. Notably, the collateral requirements have been removed, and the bond is subordinated, altering its previous financial structure. This change reflects a strategic financial maneuver by The Grounds.