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ADLER REAL ESTATE AG (FRA:ADL) DGAP-News: ADLER Real Estate AG: FFO guidance for 2019 raised following successful placement of EUR400m bond to refinance existing debt

Transparency directive : regulatory news

04/04/2019 09:39

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DGAP-News: ADLER Real Estate AG / Key word(s): Change in Forecast
ADLER Real Estate AG: FFO guidance for 2019 raised following successful placement of EUR400m bond to refinance existing debt

04.04.2019 / 09:39
The issuer is solely responsible for the content of this announcement.


 

ADLER Real Estate AG - FFO guidance for 2019 raised following successful placement of EUR400m bond to refinance existing debt

- EUR400m 1.5% bond with 3 years maturity issued at par and rated BB+ by S&P

- Proceeds will be used to refinance EUR300m 4.75% bond callable at par on 8 April 2019 and other existing debt

- Annual FFO contribution from savings of the refinancing of c.EUR 12m

Berlin, 4 April 2019 - Following the strong results published for FY2018, ADLER Real Estate AG successfully placed EUR400m senior unsecured notes ("bond") with 1.5% fixed interest maturing on 17 April 2022 (ISIN: XS1843441491). ADLER's bond rating of BB+ was reiterated by S&P. Besides that ADLER holds a Corporate rating of BB (with stable outlook).

Based on the savings of the refinancing, ADLER raises its 2019 FFO I guidance from EUR80-85m to EUR83-86m.

KPI's improved

  As of 31 Dec 2018 Post placement 2019 guidance
WACD 2.23% 2.0% Achieved
ICR 2.33x 2.3-2.5x n/a
Weighted average maturity 3.9 years 3.9 years n/a
 

Your contact for enquiries:

Tina Kladnik
Head of Investor Relations
ADLER Real Estate AG
Tel: +49 (162) 4246833
t.kladnik@adler-ag.com



04.04.2019 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: ADLER Real Estate AG
Joachimsthaler Straße 34
10719 Berlin
Germany
Phone: +49 30 398 018 10
Fax: +49 30 639 61 92 28
E-mail: info@adler-ag.com
Internet: www.adler-ag.com
ISIN: DE0005008007, XS1211417362, DE000A1R1A42, DE000A11QF02
WKN: 500800, A14J3Z, A1R1A4, A11QF0
Indices: SDAX, GPR General Index
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 795867

 
End of News DGAP News Service

795867  04.04.2019 

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