DGAP-News: ADLER Real Estate AG: Bond prepayment at ADO Group agreed and cash reserved

ADLER Real Estate AG: Bond prepayment at ADO Group agreed and cash reserved

- Prepayment of all ADO Group notes at par plus accrued interest

- Simplifying financial structure

- Part of ADLER's liabilities management

- Cashflow accretive transaction for ADLER

Berlin, 10 February 2020 - ADLER Real Estate AG (ADLER) is simplifying the financing structure of its subsidiary ADO Group Ltd. by providing support to the envisaged prepayment of all ADO Group's outstanding notes which will be prepaid at par plus accrued interest until Monday, 17 February 2020. ADO Group will use the funds received together with cash on hand to fully prepay its outstanding notes.

Maximilian Rienecker, Co-CEO of ADLER Real Estate AG said: "With this step we will clean up and simplify the financing structure of ADO Group in a way that is cash-flow accretive to ADLER. This is part of our overall liabilities management directed at reducing the cost of debt."

The prepayment relates to bonds with ISIN IL0050502405 with 4.5% coupon, maturity on January 1, 2023 and outstanding amount of ILS 614.4 million (approx. EUR 163.4 million at current exchange rates) and IL0050502652 with coupon of 2,5%, maturity on June 30, 2025 and outstanding amount of ILS 550.8 million (approx. EUR 146.5 million at current exchange rates).

ADLER acquired 100 percent of the equity in ADO Group Ltd. on December 10, 2019 for a total consideration of EUR 708 million.

For enquiries:

Tina Kladnik
Head of Investor Relations
ADLER Real Estate AG
Tel: +49 162 424 6833
[email protected]