Shoreline Mall has announced that it has paid the annual interest due on its €14 million 4% Secured Bonds 2026 and its €26 million 4.5% Secured Bonds 2032. The company also paid holders of the 2026 bonds a one-time commitment fee equivalent to 0.25% of their bonds’ face value.
The announcement does not mean that Shoreline Mall repaid the €14 million principal that was originally due on 1 August 2026. At a meeting held on 30 June, bondholders approved the postponement of the redemption date by two years, from 1 August 2026 to 1 August 2028. The resolution was approved by 95.65% of the bondholders represented at the meeting.
In return for agreeing to the delayed payment, holders of the 2026 bonds will receive an increased annual coupon rate of 6.5%, up from 4%. The new rate applies from the beginning of August 2026 and will remain in force until the bonds are redeemed. The company retains the right to repay the bonds earlier by giving bondholders 30 days’ notice.
Shoreline Mall is currently scrambling for capital to meet its liquidity requirements including payment for its creditors and bondholders.
Current bids and offers for ShoreLine Mall’s 2026 bonds on the MSE listed below.
You can view the document announcement here.
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