By Rebecca Melvin
Concord, N.H., April 21 – Adler Group SA priced €500 million of 2¼% six-year senior notes (BB+) at 98.623, according to a company news release.
The notes were placed with institutional investors across Europe with a total order book of €1.1 billion.
J.P. Morgan AG, Barclays and Deutsche Bank AG were joint bookrunners of the Regulation S notes, which priced under the company’s newly established euro medium-term note program.
The proceeds will be used to call and repay the €450 million 9 5/8% bonds issued by Consus Real Estate.
The real estate investment company is based in Luxembourg.
Issuer: | Adler Group SA
|
Amount: | €500 million
|
Securities: | Senior notes
|
Maturity: | April 2027
|
Joint bookrunners: | J.P. Morgan AG, Barclays and Deutsche Bank AG
|
Coupon: | 2¼%
|
Price: | 98.623
|
Announcement date: | April 21
|
Rating: | S&P: BB+
|
Distribution: | Regulation S
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.