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ADLER Real Estate AG
Capital/Financing Update • Nov 28, 2017
16_rns_2017-11-28_a08874e1-832a-4403-9d16-1d82d2ec4382.html
Capital/Financing Update
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News Details
Corporate | 28 November 2017 20:45
ADLER Real Estate AG Announces Receipt of Requisite Consents in Consent Solicitation Related to its 4.75% Notes due 2020 (ISIN: XS1211417362)
DGAP-News: ADLER Real Estate AG / Key word(s): Bond
28.11.2017 / 20:45
The issuer is solely responsible for the content of this announcement.
**ADLER Real Estate Aktiengesellschaft Announces Receipt of Requisite Consents in Consent Solicitation Related to its 4.75% Notes due 2020
(ISIN: XS1211417362)**
November 28, 2017 – ADLER Real Estate Aktiengesellschaft (Frankfurt Stock Exchange: ADL) ( ADLER or the Company ) announces that in its previously announced solicitation of consents (the Solicitation ) for the adoption of an amendment of the indenture governing its 4.75% Notes due 2020 (ISIN: XS1211417362) (the Notes ), the Company has received valid consents from the holders of at least a majority in aggregate principal amount of the Notes. Accordingly, the requisite consents to adopt the proposed amendment have been received.
ADLER entered into a third supplemental indenture today, November 28, 2017, to amend one of the definitions used in relation to the unencumbered assets covenant (the Unencumbered Assets Covenant ) to provide clarification around the methodology used in determining compliance with the Unencumbered Assets Covenant. The Company believes these revised provisions more accurately reflect the methodology it uses to calculate compliance with the Unencumbered Assets Covenant.
The Solicitation expired at 5:00 pm, Central European Time, on November 28, 2017 (the Expiration Time ). Subject to the conditions set forth in the consent solicitation statement previously distributed to holders of Notes on November 20, 2017 (the Consent Solicitation Statement ), ADLER will pay a consent payment of EUR2.50 for each EUR1,000 principal amount of Notes for which a consent was validly delivered prior to the Expiration Time. ADLER expects to pay the consent payment on December 1, 2017.
Deutsche Bank AG, London Branch, Goldman Sachs International, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc acted as solicitation agents for the Solicitation. Lucid Issuer Services Limited acted as information agent and tabulation agent for the Solicitation.
Important notice
This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. The Solicitation was made only pursuant to the terms of the Consent Solicitation Statement and related materials.
Contacts for ADLER:
Dr. Rolf-Dieter Grass
Head of Corporate Communications
ADLER Real Estate AG
Phone: +49 (30) 2000 914 29
28.11.2017 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.
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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 |
| End of News | DGAP News Service |