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ADLER Real Estate AG
Capital/Financing Update • Apr 4, 2019
16_rns_2019-04-04_b651e5d4-2dfd-400c-b7e5-ccc0b7ab4824.html
Capital/Financing Update
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Corporate | 4 April 2019 09:39
ADLER Real Estate AG: FFO guidance for 2019 raised following successful placement of EUR400m bond to refinance existing debt
DGAP-News: ADLER Real Estate AG / Key word(s): Change in Forecast
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
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.
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| 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: | [email protected] |
| 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 |