By Angela McDaniels
Tacoma, Wash., July 16 Adler Real Estate AG said it placed 50 million of 6% five-year bonds on Tuesday.
The bonds are an add-on to a 50 million issue that settled in April, increasing the issue size to 100 million.
Close Brothers Seydler Bank AG and Joh. Berenberg, Gossler & Co. KG were the joint global coordinators and bookrunners for the add-on.
The company said the outstanding bonds closed at 101.4 on Monday.
This transaction provides us with additional capital to invest actively in the acquisition of residential property portfolios across Germany, chief executive officer Axel Harloff said in a company news release.
Adler is a Hamburg, Germany-based real estate company.
| Issuer: | Adler Real Estate AG
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| Issue: | Bonds
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| Amount: | 50 million reopening
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| Maturity: | 2019
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| Coupon: | 6%
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| Bookrunners: | Close Brothers Seydler Bank AG and Joh. Berenberg, Gossler & Co. KG
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| Pricing date: | July 15
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| Total issue size: | 100 million
|
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