EQS Group-Ad-hoc: Airopack Technology Group AG / Key word(s): Financing
Airopack Technology Group - Further information on existing indebtedness
Baar, 1 February 2019 - Airopack Technology Group AG ("Airopack") announced today an update to the press release dated 16 January 2019. Airopack is still in intensive discussions with its major lenders to find a solution regarding the existing indebtedness and shortage of liquidity. As of 31 January 2019, no transaction could be concluded which would provide for a comprehensive refinancing and recapitalisation of Airopack Group. In addition, as of 31 January 2019, events of default have occurred under the main credit facilities agreement of Airopack Group. This would give the major lenders the right to accelerate the loans and enforce the comprehensive security package.
An arrangement has been reached that the major lenders temporarily abstain from enforcing their security package whilst such discussions will be ongoing over the next few days. However, the continuing shortage of liquidity of Airopack Group as a whole and Airopack as the listed Swiss holding company casts doubt on the ability of Airopack Group to continue to trade (see press release dated 16 January 2019).
Airopack will continue the discussions with its relevant stakeholders and the Board of Directors expects to communicate further details in the near future.
Blegistrasse 5/1 OG
Daniel Eicher / Theresia Tolxdorff
End of ad hoc announcement
|Company:||Airopack Technology Group AG|
|Listed:||SIX Swiss Exchange|
|End of Announcement||EQS Group News Service|
771689 01-Feb-2019 CET/CEST