Adler Group extends cash tender offer for convertibles due in November

Chicago, Sept. 19 – Adler Group SA announced an extension of approximately two weeks for its cash tender offer for the company’s €165 million senior secured convertible notes due Nov. 23 (ISIN: DE000A2RUD79), according to an announcement.

The tender offer period started on Aug. 29 and was set to expire at 11:59 p.m. ET on Sept. 26. However, the offer will now expire at 11 a.m. ET on Oct. 9.

The withdrawal deadline has also been pushed, now 11 a.m. ET on Oct. 2 instead of 11:59 p.m. ET on Sept. 26.

The offer price is 97 plus accrued interest.

The company earlier said it 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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