Norton Rose Fulbright has advised its client ADLER Real Estate AG (“ADLER Real Estate”) on the issuance of a corporate bond with a nominal value of EUR 300 million. The New York law governed bond has a maturity of five years and a coupon of 4.75 percent at an issue price of 98.9059%. The proceeds will be used primarily to finance the cash component of ADLER Real Estate’s public takeover bid for Berlin-based WESTGRUND AG. Through this acquisition ADLER would become the fifth largest publicly listed residential real estate company in Germany.

The Norton Rose Fulbright team was led by the Frankfurt Partner Frank Regelin and included Sascha Grimm (Partner), the associates Stefan Kutscheid and Jan-Peter Heise (all Corporate/Capital Markets), Christoph Naumann (Of Counsel, Corporate/M&A), Nadine Bourgeois (Partner, Banking, all Frankfurt) as well as Hamburg-based partner Uwe Eppler and associate Patrick Löffler (both tax); New York law advice was provided by Partner Roy Goldman (New York). ODDO Seydler Bank AG, Frankfurt, acted as Sole Global Coordinator and together with ODDO & CIE., Paris, as joint bookrunners.

Norton Rose Fulbright has already advised ADLER Real Estate on various corporate finance transactions such as share capital increases, convertible bonds and bond issues, most recently on a bond tap increasing the bond’s volume to EUR 130 million. In 2014, Norton Rose Fulbright advised ADLER Real Estate on its successful public takeover bid for Berlin-based real estate group ESTAVIS AG.

ADLER Real Estate AG is a publicly listed real estate company which focuses on enlarging and developing a substantial and profitable portfolio of residential real estates throughout Germany.