12-23-2020

eterna Mode creditors vote for extension of 2017/2022 bond




97.68% of the creditors attending eterna Mode Holding GmbH’s second creditors’ meeting approved an extension of the 2017/2022 bond with a volume of EUR 25 million until June 3, 2024. A team led by Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, legally advised eterna in connection with the bond extension. By extending the maturity of the 2017/2022 bond, which originally matured in March 2022, to June 3, 2024, the term of the promissory note loan will be extended to June 10, 2023. eterna has now succeeded in extending its proven financing mix during the difficult period of the corona pandemic.

Headquartered in Passau, eterna Mode Holding GmbH was founded in 1863. Its shirts and blouses are predominantly produced in Europe, in particular at the company’s own plant in Slovakia. The group employs about 1,000 people, of whom some 600 work at its manufacturing facility in Bánovce, Slovakia. In 2019, eterna sold about 4.3 million shirts, blouses, ties, and accessories.

The team that advised on the bond extension included consulting firm One Square Advisors, IR agency Cometis, and Link Market Service for organizing the creditors’ meeting. The team led by Kuthe has now advised on no less than eight creditors’ meetings in 2020, several of which under the special challenges of the corona conditions.

Counsel to eterna Mode Holding GmbH
Heuking Kühn Lüer Wojtek:

Dr. Thorsten Kuthe (Lead, Capital Markets),
Christopher Görtz (Capital Markets),
Sascha Beck (Capital Markets), all Cologne

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