sur ADO Properties S.A. (isin : LU1250154413)
Adler Group S.A. Completes Recapitalisation
Adler Group S.A. announced the completion of its comprehensive recapitalisation on 19 September 2024. This recapitalisation included the conversion of existing 2L notes into subordinated perpetual notes classified as equity under IFRS, which strengthened the group's equity by approximately €2.3 billion. Additionally, debt maturities were extended to December 2028, December 2029, and January 2030.
The company also gained additional liquidity of approximately €87 million from an increase in its 1L new money facility and received the capacity to retain disposal proceeds up to €250 million from April 2024. Stefan Brendgen, Chairman of the Board, and CEO Thierry Beaudemoulin both acknowledged the adverse market conditions and stressed the importance of financial stability for executing the company’s strategy.
Adler Group plans to publish its audited annual reports for 2022 and 2023 on 30 September 2024.
R. E.
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