Adler Group Secures €1.2 billion Refinancing Deal with White & Case's Guidance

Deal News | Dec 20, 2024 | White & Case

Adler Group Secures €1.2 billion Refinancing Deal with White & Case's Guidance

The global law firm White & Case LLP is providing legal counsel to Adler Group S.A. for the refinancing of €1.2 billion worth of 1L bonds, issued by the special purpose vehicle ADLER Financing S. r.l. Despite not being affiliated with Adler, this refinancing aims to adjust the interest rates and result in €47 million in saved interest costs over the bond's tenure. The existing maturity date and bond terms will remain intact. Adler plans to fulfill the bond obligations through both current and future asset sales, with the complete refinancing scheduled for January 2025.

Sectors

  • Legal Services
  • Real Estate
  • Finance

Geography

  • Germany – The participants, particularly Adler Group and White & Case LLP's Frankfurt team, are based in Germany, highlighting the geographical relevance.
  • Europe – The refinancing involves European financial instruments and entities, particularly relevant to the broader European market.

Industry

  • Legal Services – White & Case LLP's involvement signifies the legal advisory sector's role in corporate refinancing transactions.
  • Real Estate – Adler Group operates within the real estate sector, affecting its financial strategies concerning refinancing and asset sales.
  • Finance – The refinancing and bond issuance activities are core aspects of the financial industry.

Financials

  • €1.2 billion – The total amount involved in the refinancing of Adler Group's 1L bonds.
  • €47 million – The anticipated savings on interest costs for Adler Group through the refinancing.

Participants

NameRoleTypeDescription
Adler Group S.A.Target CompanyCompanyA major real estate company engaged in refinancing its bonds to reduce costs and optimize financial performance.
White & Case LLPLegal AdvisorCompanyAn international law firm advising on the legal aspects of the refinancing transaction.
ADLER Financing S. r.l.Special Purpose VehicleCompanyA financing SPV not affiliated with Adler Group but involved in the bond issuance being refinanced.