Adler RealEstate AG said it successfully placed 10 million 2016/2021 convertible notes afterclosing an accelerated bookbuilding process.
The initial conversion price was fixed at €13.79 per note,representing a 15% premium over the reference price of approximately €11.994.The total placing volume following the pricing was €137.9 million.
The notes will be issued a 95% of the nominal amount, and afixed coupon rate of 2.5% annually.
The issuance is expected to complete July 19, while thesubscription period ends July 15.