BayWa Secures Term Sheet for Amended Restructuring Plan with Creditors, Major Shareholders
BayWa (BYW.F) said Wednesday it finalized a term sheet with almost all of its creditors and two major shareholders regarding an adjusted restructuring agreement.The German agricultural and industrial group reached an agreement with 267 of its 268 creditors and shareholders, Bayerische Raiffeisen-Beteiligungs-AG and Raiffeisen Agrar Invest, for the proposed restructuring. The company expects to receive approval from the remaining financing partner "shortly."The adjusted restructuring plan includes an amendment to the company's subordinated fixed-rate perpetual bond, under which the bondholders will give up, without compensation, almost the entire principal amount of the bonds and accrued interest. The plan also requires creditors and shareholders to make a substantial restructuring contribution.The adjusted restructuring agreement, which is expected to be concluded in 2026, requires approvals from the company's boards, major shareholders, and the financing partners.
