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Adler Real Estate places 10 million convertible notes

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.