Adler Group S.A. reached a non-binding agreement in principle on a restructuring with bondholdersA.:
April 25, 2024 at 05:18 am EDT
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EQS-Ad-hoc: Adler Group S.A. / Key word(s): Capital Reorganisation
Adler Group S.A. reached a non-binding agreement in principle on a restructuring with bondholdersA.:
25-Apr-2024 / 11:16 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Disclosure of inside information pursuant to Article 17 of Regulation (EU) No. 596/2014
Adler Group S.A. reached a non-binding agreement in principle on a restructuring with bondholders
Luxembourg, 25 April 2024 – Adler Group S.A. (“Adler Group” and together with its subsidiaries, the “Group”) is currently in advanced negotiations with a steering committee of bondholders (“SteerCo”) to, among others, refinance and extend existing financial indebtedness, partially subordinate existing financial indebtedness and issue instruments representing majority voting control in Adler Group to bondholders.
These discussions have resulted in a non-binding agreement in principle and the parties are aiming for a lock-up agreement (“Lock-up Agreement”) to be signed with the members of the SteerCo and further bondholders of the Group in due course. Further information will be provided upon signing of a Lock-up Agreement. Whether a Lock-up Agreement will be concluded remains uncertain as the parties have not yet reached a final agreement.
Notifying Person:
Gundolf Moritz, Head of Financial Communications
+49 151 23680993
g.moritz@adler-group.com
Grand Duchy of Luxembourg, 25 April 2024
Adler Group S.A.
Board of Directors
Contact:
Thierry Beaudemoulin, CEO
End of Inside Information
25-Apr-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
Language:
English
Company:
Adler Group S.A.
55 Allée Scheffer
2520 Luxembourg
Luxemburg
Phone:
+352 278 456 710
Fax:
+352 203 015 00
E-mail:
investorrelations@adler-group.com
Internet:
www.adler-group.com
ISIN:
LU1250154413
WKN:
A14U78
Indices:
FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX
Adler Group SA, formerly known as ADO Properties, is a Luxembourg-based real estate company. The Company operates in Germany, in the residential real estate field with approximately 70,000 residential units, and a development pipeline of approximately 10,000 new flats in Germany. The Company focuses on asset and portfolio management, property and facility management and developing residential properties throughout Germany. The Company operates through two business segments: Residential property management and development. Residential property management offers renting and managing residential properties, the management of tenancy agreements and marketing of residential units with the focus on optimization of rental income. The development side of the business splits into build-to-sell projects and build-to-hold projects.