A group of Adler Group SA creditors has hired American investment bank Houlihan Lokey to help with a possible restructuring. The ailing real estate group is threatened with a liquidity bottleneck next year. According to those informed, the group of creditors includes the Allianz fund subsidiary Pacific Investment Management Co., as well as CQS, Farallon Capital Partners and King Street Capital. Adler bonds with a volume of EUR 700 million will mature by the end of 2023. Adler creditors are worried that the group will not be able to repay its debts. The company’s stocks and bonds have tumbled since short seller Fraser Perring said in October that the company was a “hotbed of fraud.”
Reorganization – Adler creditors get help – economy
