Published on 4/2/2015 in the Prospect News High Yield Daily.
New Issue: Adler Real Estate prices €300 million 4¾% five-year bonds to yield 5%
By Paul A. Harris
Portland, Ore., April 2 – Adler Real Estate AG priced €300 million of 4¾% five-year corporate bonds to yield 5%, according to a press release issued by the company on Thursday.
Oddo Seydler Bank AG, Frankfurt was the global coordinator. Oddo & CIE, Paris was the joint bookrunner.
The real estate company, which has headquarters in Frankfurt, plans to use the proceeds primarily to finance the takeover of Westgrund AG, Berlin, and to refinance debt.
| Issuer: | Adler Real Estate AG
|
| Amount: | €300 million
|
| Tenor: | Five years
|
| Securities: | Corporate bonds
|
| Global coordinator: | Oddo Seydler Bank AG, Frankfurt
|
| Joint bookrunner: | Oddo & CIE, Paris
|
| Coupon: | 4¾%
|
| Yield: | 5%
|
| Marketing: | Roadshow
|
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