Accord Financial held debentureholder meeting on proposed debenture amendments

Reuters2026/07/27 23:05

By:Reuters

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Accord Financial held a special meeting of holders of its 12% Unsecured Subordinated Debentures earlier today.
Debentureholders adopted amendments extending maturity to Oct. 31, 2031, with a fallback maturity of Oct. 31, 2027 if the Bank Facility is not refinanced by Dec. 31, 2026.
They also adopted changes cutting the interest rate to 7% from July 31, 2026, with flexibility to pay interest in cash or accrue it.
A further amendment was adopted to require repayment at 103% of principal on a change of control after Dec. 31, 2026.
Separate amendments to CEO Simon Hitzig family notes were finalized, reducing seniority to pari passu with the Debentures, setting 0% interest for two years from July 31, 2026, matching maturities.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Accord Financial Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20260727776657) on July 27, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Accord Financial held debentureholder meeting on proposed debenture amendments

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