Adler Real Estate announces two-part senior notes offering

By Paul A. Harris

Portland, Ore., April 19 – Adler Real Estate AG announced in a Thursday press release that it intends to issue senior notes in two tranches with five-year and eight-year maturities.

The notes will be offered in a one-day accelerated bookbuilding transaction.

J.P. Morgan Securities plc is acting as global coordinator for the Regulation S offer. Deutsche Bank AG London Branch, Goldman Sachs International, JPMorgan and Morgan Stanley & Co. International plc the joint bookrunners.

The proceeds will be used primarily to refinance a bridge loan structured in connection with the acquisition of Brack Capital Properties NV, and to fund a tender offer of up to €200 million of its €500 million 4¾% notes, and for general corporate purposes.

The tender offer was also announced on Thursday.

The prospective issuer is a Berlin-based property management company.

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