on ADO Properties S.A. (isin : LU1250154413)
Adler Group Secures Commitments for Refinancing 1.5L Facilities
Adler Group S.A. announced securing binding commitments of approximately €0.7 billion for refinancing its 1.5L Notes, originally issued by ADLER Financing S.à r.l., a special purpose vehicle. The refinancing is set to come with amended terms, featuring a reduced payment-in-kind (PIK) interest rate from 14.00% to 10.00% per annum, reflecting an improved risk profile.
The success of this refinancing hinges on the completion of a related 1L refinancing and noteholder consent for €3,041.9 million 2L PIK notes. The maturity of the 1.5L Facility remains December 31, 2029. Adler Group anticipates saving about €87 million in interest over its lifetime.
The initiative marks the second refinancing for Adler Group within weeks, signaling increased market confidence, according to CEO Dr. Karl Reinitzhuber. CFO Thorsten Arsan underscored the trust from investors, expecting €134 million in savings across both 1L and 1.5L notes.
R. E.
Copyright © 2025 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all ADO Properties S.A. news