Norton Rose Fulbright advises ADLER Real Estate AG on issue of €800m dual tranche bond

Global law firm Norton Rose Fulbright has advised longtime client ADLER Real Estate AG in the issuance of a dual tranche bond under New York law with a nominal value of €800m. This is the second largest bond offering in the German real estate sector and the largest European offering rated BB+.

The first tranche with a coupon of 1.5 percent p.a. and a volume of €500m has a term of four years. The second tranche of €300m has a coupon of 2.125 percent p.a. with a term of around six years. The bond was admitted to trading on the regulated market of the Dublin Stock Exchange on 6 December.

The proceeds of the issue are used to refinance higher-interest secured promissory note loans and a bridge loan as well as for general business purposes.

Norton Rose Fulbright’s team was led by Frankfurt-based partner Dr. Frank Peter Regelin and included senior associate Jan-Peter Heise, associate Denis Dräger (both corporate/capital market law) and partner Tino Duttiné (tax law, all Frankfurt). London-based US partner Thomas Vita, of counsel Kevin Connolly and associate Kayla Kirk advised on US law.

A team led by Frankfurt-based partner Oliver Sutter with the support of senior associate Bernhard Fiedler and associate Mid-Eum Joo (all banking and finance, Frankfurt) provided advice with regard to the refinanced bridge loan, which served as interim financing for the acquisition of a €300m real estate development project in Berlin at the beginning of November.

Norton Rose Fulbright has advised ADLER Real Estate on capital actions such as capital increases, bond issues, convertible bond issues and acquisition transactions. Most recently, Norton Rose Fulbright also advised ADLER Real Estate on a bond increase of €150m.

ADLER Real Estate is a listed real estate company focused on building and developing a high-value and high-yield residential real estate portfolio in Germany.

For further information please contact:

Stefanie Kerschke, PR & Communications Executive Germany
Tel: +49 89 212148 339; Mob: +49 174 34 528 72
stefanie.kerschke@nortonrosefulbright.com

Notes for editors:

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