Adler gives final results of tender offer, consent bid for 2 1/8% notes

By Marisa Wong

Los Angeles, June 7 – Adler Real Estate AG announced the final results of its May 9 tender offer and consent solicitation for its €300 million 2 1/8% notes due 2024 (ISIN: XS1731858715) in a Wednesday press release.

The company said it received “an overwhelming response,” with holders tendering €296,592,000 of the notes by the expiration of the offer at 11:59 p.m. ET on June 6.

After final settlement on June 13, €3,408,000 principal amount, representing 1.14% of the issue, will remain outstanding.

As previously reported, the company had received tenders for €280,092,000 of the notes by the early deadline at 5 p.m. ET on May 22. Early settlement occurred on May 26.

Noteholders were being offered a repurchase price of €940 per €1,000 note. There is a consent fee of €10 per note. And, there is a €20 payment for noteholders who tendered by the early deadline.

Holders were also delivering consents in the related consent solicitation when they tendered their notes. As a result, the required consents had been obtained by the early deadline.

Kroll Issuer Services Ltd. (+44 20 7704 0880, adler@is.kroll.com or https://deals.is.kroll.com/adlerre) is the tender and information agent.

The real estate investment company is based in Berlin.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.