How can companies successfully restructure their bonds and avert the risk of insolvency in times of increasing refinancing requirements? Many issuers, especially in the real estate sector, are currently facing major challenges.

In the current special edition of BondGuide ‘Financing in the SME sector 2024’, GÖRG partners Dr Christian Becker and Dr Lutz Pospiech have highlighted current strategies on this topic.

Thanks to the German Bond Act (SchVG) and the StaRUG, issuers can approach refinancing before insolvency occurs. These laws open up room for manoeuvre, such as maturity extensions, interest rate adjustments or debt-equity swaps – all by majority resolutions of creditors.

Read the full article in German here.