DGAP-News

Adler Group S.A. successfully places a EUR 500m 6-year bond under its newly established EMTN programme

DGAP-News: Adler Group S.A. / Key word(s): Bond Adler Group S.A. successfully places a EUR 500m 6-year bond under its newly established EMTN programme 21.04.2021 / 07:00 The issuer is solely responsible for the content of this announcement. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA OR IN ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

Adler Group S.A. successfully places a EUR 500m 6-year bond under its newly established EMTN programme

- Single tranche due April 2027 with a coupon of 2.25%

- Proceeds will be used to call and repay the EUR 450m 9.625% high yield bond issued by Consus Real Estate and enables realisation of further EUR 33m of financial synergies

Berlin, 21 April 2021 - Adler Group S.A. ("Adler Group") successfully placed EUR 500m fixed rate senior unsecured notes (the "Notes") with a 6-year maturity and a 2.25% fixed coupon under its newly established EMTN programme. The Notes were placed with institutional investors across Europe with a total order book of EUR 1.1bn.

The proceeds of the issue of the Notes will be used to call and repay the EUR 450m 9.625% high yield bond issued by Consus Real Estate AG. In addition to the announced EUR 93.8m run-rate financial synergies which were realised as of the end of 31 March 2021, this refinancing will enable Adler Group to realise further EUR 33m of annualised financial synergies. It will have a positive impact on all debt KPIs, including average cost of debt which is expected to come down to 2.2% and extending debt maturity profile to 4.5 years.

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. Barclays, Deutsche Bank and J.P. Morgan acted as Joint Bookrunners.

Investor Relations:

T [phone]
F [phone]
E [e-mail]