CoreStates Financial Corporation

EQS-News: Corestate Capital Holding S.A.: HANNOVER LEASING Group expands and strengthens its management team

Retrieved on: 
Friday, September 29, 2023
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Pullach, 29 September 2023 – The HANNOVER LEASING Group is appointing two new Managing Directors as of 1 October 2023 and 1 November 2023.

Key Points: 
  • Pullach, 29 September 2023 – The HANNOVER LEASING Group is appointing two new Managing Directors as of 1 October 2023 and 1 November 2023.
  • Subject to the approval of the German Federal Financial Supervisory Authority (BaFin), Oliver Priggemeyer is to head the Market division as Chairman of the Management Board of HANNOVER LEASING Investment GmbH and shape the future direction of the HANNOVER LEASING Group.
  • He brings more than 15 years of management and industry experience, including at companies of LaSalle Investment Management Group and PGIM Real Estate Group.
  • The Management Board and Supervisory Board would like to thank Martin Eberhardt for his work in the Group and at HANNOVER LEASING.

EQS-News: Corestate Capital Holding S.A.: Corestate successfully completes financial restructuring

Retrieved on: 
Friday, August 25, 2023
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Parallel issue of 132m new shares completed; new shareholder structure ensures stability and reflects investor confidence

Key Points: 
  • Parallel issue of 132m new shares completed; new shareholder structure ensures stability and reflects investor confidence
    Luxembourg, 25 August 2023 – Corestate Capital Holding S.A. ("Corestate") today successfully completed the balance sheet restructuring and recapitalization of the Group pursuant to resolutions by the Noteholders' meetings on 21 June 2023 and the Extraordinary General Meeting on 14 July 2023.
  • After reducing its financial liabilities from bonds from around €535m to around €143m, the Group now has significantly less debt and solid, long-term financing.
  • Convinced by the capital increase, they have given their full backing to the strategic realignment of the Group.
  • On an operational level, the extensive restructuring of Corestate that was launched last year and the accompanying rigorous cost-cutting program have so far been implemented as planned.

EQS-News: Corestate Capital Holding S.A.: Corestate: Extraordinary General Meeting votes with large majority for restructuring of share capital

Retrieved on: 
Friday, July 14, 2023
CoreStates Financial Corporation, Supervisory board, Mass meeting, Security (finance)

Juli 2023 – Today's extraordinary shareholders' meeting of Corestate Capital Holding S.A. ("Corestate") adopted all agenda items with a very large majority.

Key Points: 
  • Juli 2023 – Today's extraordinary shareholders' meeting of Corestate Capital Holding S.A. ("Corestate") adopted all agenda items with a very large majority.
  • The main subject of the resolution was the implementation of a so-called "coup d'accordéon" ("capital cut").
  • In this context, following a capital reduction, the Company's capital will be increased by issuing around 132m new shares.
  • The outcome of today's General Meeting represents an important milestone for the recapitalization of the Corestate Group with a scheduled closing in August 2023.

EQS-News: Corestate Capital Holding S.A.: Noteholders' meetings approve bond restructuring with large majority – important milestone for debt reduction reached

Retrieved on: 
Wednesday, June 21, 2023
ISIN, Note, CoreStates Financial Corporation, Frankfurt Stock Exchange, General Standard, Mass meeting, Security (finance)

The issuer is solely responsible for the content of this announcement.

Key Points: 
  • The issuer is solely responsible for the content of this announcement.
  • The resolutions passed today represent an important milestone for the debt reduction of the Company.
  • Correspondingly, the balance sheet restructuring and recapitalization of the Group is expected to be completed by August 2023.
  • The tradability of the Company's shares on the regulated market of the Frankfurt Stock Exchange will be ensured also after the segment change.

EQS-News: Corestate Capital Holding S.A.: Invitation to acquire New Super Senior Notes and New Shares by professional investors and qualified investors by submitting an offer until 30 June 2023

Retrieved on: 
Saturday, June 17, 2023
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Holders of Notes must therefore hold 14 Notes in order to acquire one (1) New Super Senior Note, 28 Notes in order to acquire two (2) New Super Senior Notes, etc.

Key Points: 
  • Holders of Notes must therefore hold 14 Notes in order to acquire one (1) New Super Senior Note, 28 Notes in order to acquire two (2) New Super Senior Notes, etc.
  • An isolated acquisition of New Super Senior Notes or of New Shares is excluded, New Super Senior Notes can only be acquired together with the corresponding number of New Shares and vice versa.
  • This invitation to acquire New Super Senior Notes and New Shares of the Company is directed exclusively at professional investors and qualified investors within the meaning of Art.
  • No prospectus will be prepared in connection with the invitation to acquire the New Super Senior Notes and the New Shares.

EQS-News: Corestate Capital Holding S.A.: Management Board downsized to two members – CFO Udo Giegerich leaves the company at his own request – bridge financing provided as planned

Retrieved on: 
Wednesday, May 10, 2023
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Luxembourg, 10 May 2023 – The Management Board of Corestate Capital Holding S.A. ("Corestate") will consist of two members in the future.

Key Points: 
  • Luxembourg, 10 May 2023 – The Management Board of Corestate Capital Holding S.A. ("Corestate") will consist of two members in the future.
  • CFO Udo Giegerich will leave the Management Board at his own request and by mutual agreement at the end of May 2023.
  • The Supervisory Board would like to thank Mr. Giegerich for the successful cooperation over the last two years.
  • Accordingly, the Management Board will in future consist of Dr. Nedim Cen (CEO/CFO) and Izabela Danner (COO/CIO).

EQS-News: Corestate Capital Holding S.A.: Alternative restructuring concept simplifies short-term recapitalization and significant debt reduction – corporate governance adjusted

Retrieved on: 
Thursday, May 4, 2023
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Luxembourg, 4 May 2023 – The Management Board of Corestate Capital Holding S.A. ("Corestate") has approved the implementation of an alternative restructuring concept ("Alternative Concept") with broad support from a group of major noteholders, other investors and significant shareholders.

Key Points: 
  • Luxembourg, 4 May 2023 – The Management Board of Corestate Capital Holding S.A. ("Corestate") has approved the implementation of an alternative restructuring concept ("Alternative Concept") with broad support from a group of major noteholders, other investors and significant shareholders.
  • Despite intensive efforts on the part of Company, the appointment of an auditor continues to be delayed.
  • The Alternative Concept includes adjustments to corporate governance, as part of which Dr. Nedim Cen moves today from his position as Chairman of the Supervisory Board to the Management Board as CEO.
  • As part of the Alternative Concept, an increase in bridge financing from €25m to €35m was also agreed with existing and new capital providers.

EQS-News: Corestate Capital Holding S.A.: Noteholders' meetings vote for extension of bond maturities

Retrieved on: 
Saturday, April 15, 2023
Alternate Concepts, Note, CoreStates Financial Corporation, EUR, Bank statement, Security (finance)

The issuer is solely responsible for the content of this announcement.

Key Points: 
  • The issuer is solely responsible for the content of this announcement.
  • Luxembourg, April 14, 2023 – Today's noteholders' meetings for the EUR 200 million 2022 convertible notes and the EUR 300 million 2023 notes (together the "Notes") issued by Corestate Capital Holding S.A. ("Corestate") unanimously approved a rollover of the final maturity date to 31 July 2023, a deferral of interest payments and the waiver of certain termination rights.
  • The resolutions adopted enable Corestate to conclude the currently ongoing discussions on the concrete form of an alternative restructuring concept ("Alternative Concept") to present this to the noteholders for a vote at a later meeting.
  • A key feature of the alternative concept is that it can in principle be implemented without the availability of audited financial statements, as Corestate has not yet been able to appoint an auditor for the 2022 financial year.

EQS-News: Corestate appoints Stephan Goetschel as CRO to the Group Management Board

Retrieved on: 
Sunday, December 18, 2022
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Luxembourg, December 12, 2022 – The Supervisory Board of Corestate Capital Holding S.A. ("Corestate") has appointed Stephan Goetschel as Chief Restructuring Officer (CRO) to the Group Management Board.

Key Points: 
  • Luxembourg, December 12, 2022 – The Supervisory Board of Corestate Capital Holding S.A. ("Corestate") has appointed Stephan Goetschel as Chief Restructuring Officer (CRO) to the Group Management Board.
  • Mr. Goetschel will primarily oversee the implementation of the adopted financial restructuring concept and the realignment of the Group, without having any operational responsibility of his own.
  • He holds a degree in law and business administration and most recently served on the Management Board of Pfisterer AG. Together with Izabela Danner (COO) and Udo Giegerich (CFO) the Management Board of Corestate will consist of three members as of January 1, 2023.
  • About Corestate Capital Holding S.A. (Corestate)
    Corestate is an investment manager and co-investor with € 17.3 billion in assets under management in the core business.

EQS-News: Corestate implements important conditions from the approved restructuring concept

Retrieved on: 
Sunday, December 18, 2022
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Supervisory Board with two new members – Dr. Nedim Cen new Chairman of the Supervisory Board

Key Points: 
  • Supervisory Board with two new members – Dr. Nedim Cen new Chairman of the Supervisory Board
    Luxembourg, December 5, 2022 – Corestate Capital Holding S.A. ("Corestate") has fulfilled several key conditions from the agreed restructuring concept following the creditors' meeting on November 28, 2022.
  • In parallel, the position of Chief Restructuring Officer (CRO) was added to the Group Management Board.
  • Subsequently, the AHC will provide bridge financing in the amount of € 10 million as a further component of the Company's restructuring concept.
  • This short-term financing serves to secure and further develop the Group's general liquidity and forms an anchor measure under the restructuring concept.