ADLER Group S.A.: ADLER Group S.A. successfully places a EUR 400 million 6-year bond to refinance existing debt
November 09, 2020 at 06:22 pm
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DGAP-News: ADLER Group S.A.
/ Key word(s): Bond
ADLER Group S.A.: ADLER Group S.A. successfully places a EUR 400 million 6-year bond to refinance existing debt
09.11.2020 / 19:22
The issuer is solely responsible for the content of this announcement.
ADLER Group S.A. successfully places a EUR 400 million 6-year bond to refinance existing debt
Single tranche due November 2026 with a coupon of 2.75%
New issue more than four times oversubscribed with more than 150 investors participating
Proceeds will be used to further extend debt maturity profile
Berlin, 09 November 2020 - ADLER Group S.A. ("ADLER Group", formerly ADO Properties S.A.) today successfully placed EUR 400 million fixed rate senior unsecured notes (the "Notes") with a 6-year maturity and a 2.75% fixed coupon. The Notes were placed with institutional investors across Europe with the order book more than four times oversubscribed.
The proceeds of the issue of the Notes will be used to repay existing short-term indebtedness and hence further extends ADLER Group's average debt maturity.
The Notes are rated BB+ with S&P, driven by the strong recovery rating of the bonds and influenced by ADLER Group's valuable asset base.
The Notes have a denomination of EUR 100,000 each and will be listed on the Euro MTF of the Luxembourg Stock Exchange. J.P. Morgan acted as Sole Global Coordinator and Barclays, Deutsche Bank and J.P. Morgan acted as Joint Bookrunners.
Investor Relations:
T +352 278 456 710
F +352 203 015 00
E investorrelations@adler-group.com
09.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
ADLER Group S.A.
1B Heienhaff
1736 Senningerberg
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:
SDAX, 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.