Antolin: Standstill Agreement with Bondholders

Spanish automotive supplier Grupo Antolin (Burgos, Spain) has entered into a standstill agreement with a creditor committee representing holders of its bonds due in 2028 and 2030. As Antolin announced on August 14, 2026, the agreement is intended to provide stability for negotiations on a consensual recapitalization of the group. The initial two-week period may be extended. During this time, both sides intend to suspend all legal action and continue negotiations.

The agreement also covers ongoing proceedings in the US and the UK. A hearing before the US Bankruptcy Court, scheduled for August 19, on recognition of the Spanish restructuring proceedings under Chapter 15 has been postponed to a date yet to be determined. Interim protective measures already granted will remain in place until then. Deadlines in proceedings before the English High Court are also being postponed. In addition, members of the creditor committee intend to withdraw petitions to wind up certain UK Antolin companies during the standstill period.

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The backdrop is the restructuring of Antolin’s financing, which has been under way since June. Antolin had agreed a recapitalization with key lenders that includes, among other measures, extended maturities and EUR 220 million in new working-capital financing. At the end of June, lenders representing around 71.5 percent of the existing syndicated financing supported the proposal. According to Antolin, support had risen to more than 95 percent by early August. Support among bondholders, however, was significantly lower: holders representing more than 8 percent of the nominal value of the 2028 bonds and more than 5 percent of the 2030 bonds had backed the restructuring plan.

On July 10, Antolin applied to the competent court in Burgos for judicial approval of the Spanish restructuring plan. On July 20, Antolin and several subsidiaries filed Chapter 15 petitions with the US Bankruptcy Court in New York to seek recognition of the Spanish proceedings in the US.

According to Antolin, business operations are continuing unchanged in all regions.

More information: www.grupoantolin.com

Grupo Antolin-Irausa, S.A., Burgos, Spanien

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