Bonds – Adler settles with creditors – Economy

Troubled property manager Adler Group has reached an agreement after negotiations with a group of bondholders. To stabilize the Adler Group, an agreement to adjust the senior unsecured bonds issued by the Adler Group had been concluded, the company announced on Friday evening. An exception to this is the convertible bond issued by the Adler Group. At the same time, the Adler Group concluded an agreement with the members of the steering committee to provide secured debt financing of up to EUR 937.5 million to further support the Adler Group. The provision of external financing is subject to a positive restructuring report, an adjustment to the bond terms, the provision of the agreed collateral and other closing conditions customary in the market.

The Adler Group is under pressure on many fronts. The KPMG auditors had refused her the attestation for the 2021 annual financial statements, among other things. The group is still looking for a new auditor for 2022, because KPMG is no longer available for this.

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