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ADO Properties S.A.: ADO Properties places 74.5 million Euro debut Schuldschein and bilateral credit facility

DGAP-News: ADO Properties S.A. / Key word(s): Financing

08.11.2018 / 07:30
The issuer is solely responsible for the content of this announcement.

*             Unsecured funding with a majority of the notes fixed-rate
*             Further diversification of debt investor base
*             Extension of maturity profile

ADO Properties issued an unsecured Schuldschein with tenors of five to ten years including fixed and floating rate tranches, the majority of the demand was fixed-rate. The Schuldschein attracted demand from typical domestic SSD investors. In addition, ADO Properties entered into a bilateral loan agreement with a leading international bank.

Proceeds will be used for general corporate purposes of the Group and repayment of short-term debt, mainly Commercial Papers.

ADO Properties CFO Florian Goldgruber: "The transaction allowed us to extend our debt maturity profile and contributed to the further diversification of our refinancing instruments as well as our debt investor base. The transaction represents another step in our capital market-oriented financing strategy; a further diversification of our funding sources is envisaged."

BayernLB, BNP Paribas and HSBC acted as Joint Arrangers on the SSD transaction.

About ADO Properties
ADO Properties is a Berlin-based business focused on residential real estate with a portfolio of approximately 24,000 units in Berlin. The Company has a fully integrated, scalable in-house platform with its own property management. Along with the responsibility for the condition of its apartments and buildings, ADO Properties also assumes responsibility towards people, employees, and neighborhoods. ADO Properties' portfolio is focused on central locations in Berlin and attractive suburban districts.

08.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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