PRESS RELEASE: ADLER Real Estate placed convertible bonds completely
Category: Word Press
DGAP-News: ADLER Real Estate AG / Key word(s): Bond ADLER Real Estate placed convertible bonds completely
27.12.2013 / 16:20
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ADLER Real Estate placed convertible bonds completely
- Issue of up to 3.0 million convertible bonds
- Issue price of EUR 3.75 per note
- Finance of further development of residential real estate
Hamburg, 27 December 2013. The convertible bond 2013/2018 of ADLER Real Estate AG, Frankfurt/M., (ISIN DE0005008007) is placed completely. After termination of the subscription period subscriptions for 3.0 million convertible bonds exist. After acceptance ADLER flow to EUR 11.25 million at an issue price of 3.75 EUR per note. The notes shall bear interest at a rate of 6.00% p.a. Close Brothers Seydler AG, Frankfurt/M., accompanies the issue as sole bookrunner.
The issue proceeds from the new convertible bond 2013/2018 shall be used for financing ADLER's growth, in particular further development of residential real estate portfolios in Germany. ADLER has already taken several steps this year to generate new funds for financing the expansion of its property portfolio. In addition to a capital increase, the issue of a corporate bond and the increase of this bond ADLER has issued a convertible bond this year for the second time. The first convertible bond 2013/2017 of June 2013 has a volume of EUR 10 million. The issue price of these bonds 2013/2017 is EUR 2.00 per note.
'All together we acquired liquidity of EUR 60 million in the capital markets for our growth this year.', Axel Harloff, CEO of ADLER Real Estate AG, points out. These funds are mainly invested in the participation of ADLER in portfolios with approximately 9,000 apartments and a total volume of approx. EUR 500 million.
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PRESS RELEASE: ADLER Real Estate placed convertible bonds completely
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