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Adler Group starts cash tender offer for convertibles due in November
Chicago, Aug. 29 – Adler Group SA started a cash tender offer on Tuesday for the company’s €165 million senior secured convertible notes due Nov. 23 (ISIN: DE000A2RUD79), according to an announcement.
The offer price is 97 plus accrued interest.
The tender offer period started on Aug. 29 and will expire at 11:59 p.m. ET on Sept. 26.
The company said it also plans to issue €191 million of new senior secured notes with a two-year tenor.
The new notes will be used to fund the tender offer.
The real estate investment company is based in Berlin.
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