on ADO Properties S.A. (ETR:LU125015)
ADLER Real Estate Initiates Cash Tender Offer for €300 Million Notes
ADLER Real Estate GmbH, a subsidiary of Adler Group S.A., has announced a tender offer for its €300 million senior secured notes due April 2026. The offer, starting May 19 and closing June 16, 2025, proposes a repurchase price of €98,500 per €100,000 principal amount, contingent on new financing. This financing will be facilitated by ADLER Financing S.à r.l., a vehicle related to some noteholders but independent from Adler Group.
Notably, 80% of noteholders have committed to participate. Concurrently, the company is conducting a consent solicitation to simplify covenant requirements. The aim is to streamline processes related to the remaining notes post-tender offer. This move is significant for both Adler Group's financial maneuvering and administrative efficiency.
R. P.
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