By Rebecca Melvin
Concord, N.H., April 21 – Adler Group SA priced €500 million of 2¼% six-year senior notes (BB+) at 98.623, according to a company news release.
The notes were placed with institutional investors across Europe with a total order book of €1.1 billion.
J.P. Morgan AG, Barclays and Deutsche Bank AG were joint bookrunners of the Regulation S notes, which priced under the company’s newly established euro medium-term note program.
The proceeds will be used to call and repay the €450 million 9 5/8% bonds issued by Consus Real Estate.
The real estate investment company is based in Luxembourg.
| Issuer: | Adler Group SA
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| Amount: | €500 million
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| Securities: | Senior notes
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| Maturity: | April 2027
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| Joint bookrunners: | J.P. Morgan AG, Barclays and Deutsche Bank AG
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| Coupon: | 2¼%
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| Price: | 98.623
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| Announcement date: | April 21
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| Rating: | S&P: BB+
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| Distribution: | Regulation S
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