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DGAP-News: ADLER Real Estate AG / Key word(s): Capital Reorganisation ADLER Real Estate AG: Already 90% of convertible bonds placed

13.12.2013 / 18:34

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ADLER Real Estate: Already 90% of convertible bond placed

- Issue of up to 3.0 million convertible bonds

- Subscription offerings for 2.7 million convertible bonds are already existent within the scope of the private placement

- Issue price of EUR 3.75 per note

- Subscription period lasts until 23 December 2013

Hamburg, 13 December 2013. Three days after the beginning of the subscription period it becomes apparent that the convertible bond 2013/2018 of ADLER Real Estate AG, Frankfurt/M., (ISIN DE0005008007) will be placed to a large extent. Within the scope of a private placement, which takes place simultaneously to the rights offer, subscriptions for approx. 2.7 million convertible bonds exist. This is equivalent to 90% of the overall issue of 3,000,000 notes in bearer form. Total volume of the bond amounts to EUR 11.25 million. Issue price of the notes is EUR 3.75 and corresponds to the principal amount and the initial conversion price. The notes shall bear interest at a rate of 6.00% p.a.

Already before the start of the subscription period for a total of 2,000,000 notes in bearer form placement agreements existed with two investors, to whom a corresponding number of subscription rights, conditional to the start of the rights offer, had been transferred by shareholders of the company. Therefore only the remaining 1,000,000 notes in bearer form are offered for subscription as part of the rights offer. For approx. 700,000 of these notes in bearer form further subscription offerings exist, which are however conditionally to the exercise of the subscription right by the entitled parties. The subscription period lasts until 23 December 2013.

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PRESS RELEASE: ADLER Real Estate AG: Already 90% of convertible bonds placed