Chicago, July 30 – ADO Properties SA priced €400 million 3¼% senior notes due August 2025 (BB+) at 98.871, according to an announcement.
JPMorgan was global coordinator. Barclays, Deutsche Bank and JPMorgan were joint bookrunners for the oversubscribed offer.
Proceeds will be used to refinance short-dated debt.
ADO Properties is a residential real estate company based in Luxembourg.
| Issuer: | ADO Properties SA
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| Issue: | Senior notes
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| Amount: | €400 million
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| Maturity: | August 2025
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| Global coordinator: | JPMorgan
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| Joint bookrunners: | Barclays, Deutsche Bank and JPMorgan
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| Co-managers: | Santander and Natixis
|
| Coupon: | 3¼%
|
| Price: | 98.871
|
| Announcement date: | July 29
|
| Rating: | S&P: BB+
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