White & Case advises Adler Group on €1.2 billion refinancing

Global law firm White & Case LLP has advised Adler Group S.A. on the refinancing of the 1L bonds issued by ADLER Financing S.à r.l. (Financing SPV), a special purpose vehicle not affiliated with Adler Group, in the amount of approximately €1.2 billion, and a corresponding interest rate adjustment between Adler Group and Financing SPV.

Adler Group will save approximately €47 million in interest costs over the expected tenor of the 1L facility. The maturity date and all other terms of the bonds will remain unchanged. Adler Group expects to repay the bonds from the proceeds of current and future portfolio and asset sales. The refinancing is expected to be completed by the end of January 2025.

The White & Case team which advised on the transaction was led by partners Andreas Lischka, Gernot Wagner and Yannick Adler (all Frankfurt) and included partners Roger Kiem and Bodo Bender (both Frankfurt), local partner Markus Fischer (Frankfurt) and associates Timo Lockemann, Angela Fleck, Lina Fiedler and Elias Schäfer (all Frankfurt) and Tobias Zündorf (Hamburg).

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