Branicks (DIC Asset) - comment

Extending the maturity of promissory notes and the bridge loan removes the immediate liquidity crunch for Branicks. Branicks now has the time it needs to execute an amend and extend for the SUNs. VIB has lent a further helping hand by buying a €60m portfolio of assets. The bridge maturity has been extended to the end of 2024 in return for a redemption payment of €40m. The extension indicates that the Interest Cover covenant was met at year-end.