According to a report in “Standard” (online), a private debt investor is said to be interested in providing a loan of around 100 million euros for four years (plus one year optionally). For this he demands 15 to 20 percent interest as well as a share in any additional proceeds from the exploitation. The decision on this loan should be made in the next 14 days; the talks are well advanced, wrote the “Standard”.
The name of the potential investor was not mentioned in the report. As reported, negotiations are also likely to be underway with Hamburg billionaire Klaus-Michael Kühne regarding an emergency loan of 100 million euros for Prime.
The money is intended to provide the liquidity needed to cover bills while the company is winding down. Signa-Prime’s creditors approved restructuring manager Norbert Abel’s trust plan on Monday. The adopted recovery plan proposal calls for all properties to be sold over a period of three to five years to benefit from an expected recovery in the market. This should cover at least 30 percent of the claims.
