Berlin, December 18, 2025 – The Grounds Real Estate Development AG (“The Grounds” / ISIN: DE000A40KXL9) has agreed with a fund vehicle managed by H.I.G. Capital (“Investor”) to convert the EUR 17 million bond issued by the Investor in 2023/2024 into a hybrid bond. This will result in the bond being reported as equity in the IFRS consolidated financial statements. Specifically, the term of the bond has been changed to perpetual and repayment will only take place at the initiative of the company. The collateral will be eliminated and the bond will be subordinated.
Company contact:
The Grounds Real Estate Development AG
Jacopo Mingazzini (CEO), Andrew Wallis (CFO)
Zimmerstraße 16, 10969 Berlin
T. +49 (0) 30 2021 6866
F. +49 (0) 30 2021 6849
E-Mail: info@tgd.ag
Web: www.thegroundsag.com
– End of ad hoc announcement –
