White & Case Advises ADLER Group S.A. on €1.5 Billion Corporate Bond and Repurchase Offer for €500 Million Bond of ADLER Real Estate AG

Global law firm White & Case LLP has advised Luxembourg real estate company Adler Group S.A. (ADLER), on the issue of a senior unsecured corporate bond with a total volume of €1.5 billion.

The bond consists of two tranches, the first with an amount of €700 million has a term until 2026 and a fixed annual coupon of 1.875%, and the second with an amount of €800 million has a term until 2029 and a fixed annual coupon of 2.250%. The bond will be listed on the Euro MTF market of the Luxembourg Stock Exchange.

Simultaneously, ADLER Real Estate AG, a company of the ADLER Group, made a cash offer to buy back a €500 million bond issued in 2017. The repurchase will be financed from the funds of the new issue.

White & Case frequently advises ADLER on corporate finance and M&A transactions, including the acquisition of ADLER Real Estate AG in April 2020 and the acquisition of Consus Real Estate AG in July 2020, as well as a €450 million rights issue and two €400 million bond issues in August and November 2020.

The White & Case team in Frankfurt which advised on the transaction was led by partner Gernot Wagner and included partners Bodo Bender, Thilo Diehl, Rebecca Emory and Karsten Wöckener, local partners Cristina Freudenberger and Daniel Rogits and associates Robert Nachama, Philipp Kronenbitter, Daniel Gillenkirch and Patrick Schoelles.

The White & Case team in Frankfurt which advised on the repurchase offer was led by partner Karsten Wöckener and included associates Philipp Kronenbitter and Daniel Gillenkirch.

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