Adler Group S.A. Announces Preliminary Restructuring Agreement with Bondholders

On April 25, 2024, Luxembourg-based Adler Group S.A. disclosed a non-binding preliminary agreement with a steering committee of its bondholders. The agreement involves refinancing and extending the company's existing financial debts, and partially subordinating the existing financial indebtedness. It also contemplates issuing new instruments that would grant bondholders majority voting control in Adler Group.

The negotiations are part of a broader plan aimed at stabilizing the financial structure of Adler Group and its subsidiaries. Although the preliminary non-binding agreement has been reached, the final agreement remains uncertain, pending the signing of a lock-up agreement with more bondholders. The company promised to provide further updates following any definitive agreements.