ADLER Real Estate AG: Bond Issuance and Tender Offer to Buy Back Existing Notes

ADLER Real Estate AG: Bond Issuance and Tender Offer to Buy Back Existing Notes

- ADLER to issue senior unsecured notes in two tranches

- ADLER to launch a Tender Offer to repurchase existing up to EUR 200 million principal amount of the existing EUR 500 million 15/20 4.75% notes

Berlin, 19 April 2018 - ADLER Real Estate AG intends to issue senior unsecured notes in two tranches. The notes will be offered in a one-day bookbuilding by way of private placements to qualified investors outside the United States of America pursuant to Regulation S. There will be no public offer for the notes. ADLER intents to make an application for the notes to be admitted to the official list with trading on the Main Securities Market of Euronext Dublin.

The notes are expected to be issued in two tranches with maturities of 5 and 8 years. The interest coupon will be determined in the bookbuilding.

The net proceeds from the notes issuance will be used primarily for the purpose of refinancing the bridge loan structured in connection with the successful acquisition of Brack Capital Properties N.V. ("BCP") as well as for the repurchase by way of a tender offer of up to EUR 200 million principal amount of the existing EUR 500 million 15/20 4.75% notes, which was also launched today and which will close on 27 April 2018, and for general corporate purposes.

The measures aim to improve the company's Weighted Average Maturity ("WAM"), improve the FFO, Cost of Debt and other key financial ratios and accelerate the path to Investment Grade.

J.P. Morgan Securities plc is acting as Sole Global Coordinator, and Deutsche Bank AG London Branch, Goldman Sachs International, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc are acting as Joint Bookrunners for the accelerated bookbuilding.

For enquiries, please contact:

Dr Rolf-Dieter Grass
Head of Corporate Communication
ADLER Real Estate AG
Telephone: +49 (30) 2000 914 29
r.grass@adler-ag.com
 

Disclaimer

This publication constitutes neither an offer to sell nor an invitation of an offer to purchase or subscribe for any securities. No public offer of securities of ADLER Real Estate AG is being made or intended.

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