Adler Group announces 42.12% of convertibles tendered in offer

Chicago, Oct. 10 – Adler Group SA announced the results of its cash tender offer for its €165 million senior secured convertible notes due Nov. 23, 2023 (ISIN: DE000A2RUD79).

The company received tenders for €69.5 million, or 42.12%, of the notes.

As previously reported, Adler was offering 97 plus accrued interest.

The offer ended at 11 a.m. ET on Oct. 9 after an extension from 11:59 p.m. ET on Sept. 26.

Settlement is expected on Oct. 12.

Financing for the tender offer is coming from the placement of €191 million of senior secured notes due July 31, 2025, which settled on Oct. 9.

The real estate investment company is based in Berlin.

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