By Toni Weeks
San Luis Obispo, Calif., Jan. 15 Adler Real Estate AG said it placed 30 million of 6% five-year bonds on Thursday.
The bonds are an add-on to an existing 100 million issue, of which 50 million settled last April and an additional 50 million settled in July.
Oddo Seydler Bank, AG Frankfurt am Main was the global coordinator and bookrunner for the add-on, which priced at 102.
Proceeds will be used to acquire additional real estate portfolios and to finance continued growth.
This transaction provides us with additional capital to invest actively in the acquisition of residential property portfolios across Germany, chief executive officer Axel Harloff said in a previous company news release.
Adler is a Hamburg, Germany-based real estate company.
| Issuer: | Adler Real Estate AG
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| Issue: | Bonds
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| Amount: | 30 million reopening
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| Price: | 102 (for latest 30 million)
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| Maturity: | April 1, 2019
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| Coupon: | 6%
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| Bookrunner: | Oddo Seydler Bank, AG Frankfurt am Main
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| Pricing date: | July 15 for original notes; Jan. 15 for add-on
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| Total issue size: | 130 million
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