Maison Pommery & Associés has won bondholder approval to push back the maturity of a €45m ($51.9m) bond issue by 12 months.
In a statement yesterday (9 June), Maison Pommery said the move would allow it to continue its exclusive talks with Henkell Freixenet over the possible sale of a majority stake in the Champagne producer
The bonds, originally due to mature on 19 June, will now mature on 19 June 2027. A consent fee of 0.15% of the aggregate principal amount of the bonds (0.215% gross) will also be paid to bondholders on 3 July. The company requested the extension last month.
The approval comes a week after Maison Pommery confirmed it had started talks with Henkell Freixenet over a proposed “strategic combination”. The talks are due to run for two months. Maison Pommery said the bond extension would also support discussions with financial partners and planned disposals of “non-strategic assets”.