Million bond at Hertha BSC extended until 2025

vote of creditors

Hertha BSC has achieved success on the way to economic consolidation. As the Bundesliga relegated announced on Monday, the creditors of a bond agreed to extend the period for paying out the 40 million euros by two years until November 2025. “We are very pleased to have reached the quorum required to approve the bond extension. That gives us planning security and helps to stabilize Hertha BSC’s financial situation next season. Our big thanks go to all investors who have agreed,” said Hertha Managing Director Thomas E. Herrich.

community
All topics related to Hertha BSCHave your say now!
By 3 p.m. on Monday afternoon, the creditors were asked to vote on the extension of the deadline hoped for by the second division club. Most recently, the Berlin club had increased the interest rate conditions from 6.5 percent by two percent to 10.5 percent. This will result in additional costs in the tens of millions by the new payment date, but the financially troubled club will have more room for maneuver for the coming season. Actually, the bond would be due for repayment in November. Hertha did not provide any information about the exact voting ratio.

The postponement is considered an essential building block for the license granted by the German Football League (DFL) for the coming second division season. If the necessary two-thirds majority had not been reached, Hertha would have had to offer other – probably more expensive – securities, such as a bank guarantee for a loan worth millions. The new investor 777 Partners was considered a potential guarantor for this. Neither the American company nor Hertha or the DFL had publicly commented on the details of the licensing.

To home page