Adler Group plans offering of new senior secured two-year notes

Chicago, Aug. 29 – Adler Group SA is readying the sale of €191 million senior secured notes, according to a press release.

The new notes will be secured in ranking after the relevant asset level financings and the company’s financing obtained in connection with the restructuring under the company’s existing intercreditor agreement.

Proceeds will be used to repay the company’s convertible notes, subject of a tender offer but due in November, and certain promissory notes issued by ADO Lux Finance Sarl and guaranteed by the company.

The new notes will be listed in Frankfurt.

The real estate investment company is based in Berlin.

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