Adler S A : realises synergies and further simplifies its group structure
May 05, 2021 at 09:11 am EDT
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DGAP-News: Adler Group S.A.
/ Key word(s): Bond
Adler Group S.A. realises synergies and further simplifies its group structure
05.05.2021 / 15:09
The issuer is solely responsible for the content of this announcement.
Adler Group S.A. realises synergies and further simplifies its group structure
Redemption of EUR 450m high yield bond issued by Consus
WACD to reduce to 2.2% and leading to realisation of further EUR 33m of annualised financial synergies
WESTGRUND squeeze out expected to be completed in second half of 2021
Berlin, 5 May 2021 - Consus Real Estate AG ("Consus"), fully consolidated subsidiary of Adler Group S.A. ("Adler Group"), has announced yesterday that it will redeem all of its EUR 450m 9.625% senior secured notes due 2024 (the "Notes") at the redemption price of 104.813%. The redemption date for the Notes will be on 15 May 2021. The Notes will be repaid with the proceeds from the recent bond issuance of Adler Group.
This refinancing will enable Adler Group to reduce its weighted average cost of debt to 2.2% and realise further EUR 33m of annualised financial synergies.
The redemption of the Notes, together with the squeeze out of minority shareholders of WESTGRUND Aktiengesellschaft which is expected to be completed in the second half of 2021, mark an important milestone on the way to further simplify and harmonise the group structure.
Contact:
Investor Relations
T +352 278 456 710
F +352 203 015 00
E investorrelations@adler-group.com
05.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language:
English
Company:
Adler Group S.A.
1B Heienhaff
1736 Senningerberg
Luxemburg
Phone:
+352 278 456 710
Fax:
+352 203 015 00
E-mail:
investorrelations@adler-group.com
Internet:
www.adler-group.com
ISIN:
LU1250154413
WKN:
A14U78
Indices:
SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX
Adler Group SA, formerly known as ADO Properties, is a Luxembourg-based real estate company. The Company operates in Germany, in the residential real estate field with approximately 70,000 residential units, and a development pipeline of approximately 10,000 new flats in Germany. The Company focuses on asset and portfolio management, property and facility management and developing residential properties throughout Germany. The Company operates through two business segments: Residential property management and development. Residential property management offers renting and managing residential properties, the management of tenancy agreements and marketing of residential units with the focus on optimization of rental income. The development side of the business splits into build-to-sell projects and build-to-hold projects.
ADLER GROUP S.A. 
