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ADLER REAL ESTATE AG (FRA:ADL) ADLER Real Estate AG: Bond prepayment at ADO Group agreed and cash reserved

Directive transparence : information réglementée

10/02/2020 14:56

DGAP-News: ADLER Real Estate AG / Key word(s): Financing
ADLER Real Estate AG: Bond prepayment at ADO Group agreed and cash reserved

10.02.2020 / 14:56
The issuer is solely responsible for the content of this announcement.


 

ADLER Real Estate AG: Bond prepayment at ADO Group agreed and cash reserved

- Prepayment of all ADO Group notes at par plus accrued interest

- Simplifying financial structure

- Part of ADLER's liabilities management

- Cashflow accretive transaction for ADLER

Berlin, 10 February 2020 - ADLER Real Estate AG (ADLER) is simplifying the financing structure of its subsidiary ADO Group Ltd. by providing support to the envisaged prepayment of all ADO Group's outstanding notes which will be prepaid at par plus accrued interest until Monday, 17 February 2020. ADO Group will use the funds received together with cash on hand to fully prepay its outstanding notes.

Maximilian Rienecker, Co-CEO of ADLER Real Estate AG said: "With this step we will clean up and simplify the financing structure of ADO Group in a way that is cash-flow accretive to ADLER. This is part of our overall liabilities management directed at reducing the cost of debt."

The prepayment relates to bonds with ISIN IL0050502405 with 4.5% coupon, maturity on January 1, 2023 and outstanding amount of ILS 614.4 million (approx. EUR 163.4 million at current exchange rates) and IL0050502652 with coupon of 2,5%, maturity on June 30, 2025 and outstanding amount of ILS 550.8 million (approx. EUR 146.5 million at current exchange rates).

ADLER acquired 100 percent of the equity in ADO Group Ltd. on December 10, 2019 for a total consideration of EUR 708 million.

For enquiries:

Tina Kladnik
Head of Investor Relations
ADLER Real Estate AG
Tel: +49 162 424 6833
t.kladnik@adler-ag.com



10.02.2020 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.

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Language: English
Company: ADLER Real Estate AG
Joachimsthaler Straße 34
10719 Berlin
Germany
Phone: +49 30 398 018 10
Fax: +49 30 639 61 92 28
E-mail: info@adler-ag.com
Internet: www.adler-ag.com
ISIN: DE0005008007, XS1211417362, DE000A1R1A42, DE000A11QF02
WKN: 500800, A14J3Z, A1R1A4, A11QF0
Indices: SDAX, GPR General Index
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 972035

 
End of News DGAP News Service

972035  10.02.2020 

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