Bank lenders face choice as Wirecard teeters on brink

Aidan Gregory,

Silas Brown

June 19, 2020 10:00 AM

Wirecard_4_PA_575_375 — PHOTO ASSEMBLY: The descent of the Wirecard share walks rapidly, the payment service provider has gambled away the trust of investors. Management chairman Dr. Markus BRAUN. wirecard logo, company emblem, lettering, building, facade, based in Aschheim Dorafter WIRECARD AG | usage worldwide | FrankHoermann/SVEN SIMON/DPA/PA Images

Lenders to Wirecard, the embattled German payments company, will have to decide whether to call in its €1.75bn syndicated loan, after its auditor EY refused to sign off its 2019 accounts, which the company announced on Thursday, sending its share price into a spiral. Markus Braun, the company's CEO, resigned on Friday.

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Topics

Deutsche Bank Syndicated Loans LBBW Equity Citi Barclays EMEA Corporate Bonds ING Germany Commerzbank Europe Crédit Agricole ABN Amro Equity-Linked

AG

Aidan Gregory

SB

Silas Brown