SdK recommends bondholders of Schlote Holding GmbH to pool their interests

According to the company’s invitation, the automotive industry as a whole is still effected by the coronavirus pandemic and the war in Ukraine, which have led to disrupted supply chains and increased energy prices. This also led to further declines in order numbers from the Schlote's customers in 2023. These declines were greater than expected by the Schlote Group's customers and therefore also by the Schlote Group itself, and the Schlote Group does not currently see any signs of a trend reversal. The Schlote Group is now assuming a sideways movement at a low level for several years, as the trend towards e-mobility, which the Schlote Group believes is politically desired but  currently not realised by consumers, remains at an unplanned low level. The Schlote Group is therefore unable to repay the bond as planned in November 2024 and is therefore asking the bondholders for concessions in order to avoid a court-ordered restructuring solution.

The bondholders are asked to waive repayment of the bond in the amount of 50% of the nominal value. Furthermore, bondholders should approve to extend the maturity by 9 years until 21 November 2033. The bondholders are also asked to agree that interest will no longer be paid annually, but will only become due on the redemption date. In addition, Dr Marc Liebscher, who is also a member of the board of SdK Schutzgemeinschaft der Kapitalanleger e.V., shell be appointed as joint representative of the bondholders.

In the opinion of SdK, the currently proposed restructuring concept cannot be approved. In the view of SdK, bondholder can just approve a hair-cut, if owners of schlote make a restructuring contributionand and a recovery instrument is given to bondholders, so that the company’s credit rating is strengthened and, in the event of a successful reorganisation, a opportunity for recovery is given to the bondholders. Furthermore, a restructuring opinion is required in advance befor the approval of the bondholders in order to be able to assess the prospects of success of a restructuring.

SdK recommends affected bondholders to organise in order to ensure the best possible protection of their interests. SdK is offering free proxy voting for the vote without a meeting and any further upcoming bondholder meetings that may be necessary. Affected investors can also register for a free newsletter at /schlote, which the SdK will use to keep bondholders informed of further developments. 

The SdK will be happy to answer any questions from its affected members by e-mail at or under 0.

Munich, 26th of January 2024
SdK Schutzgemeinschaft der Kapitalanleger e.V.

Note: The SdK holds a bond of Schlote Holding GmbH!