ADO Properties S.A.

  • WKN: A14U78
  • ISIN: LU1250154413
  • Land: Luxemburg

Nachricht vom 16.11.2018 | 19:05

ADO Properties S.A.: ADO Properties S.A. successfully places EUR 165 million convertible bonds

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

16.11.2018 / 19:05
The issuer is solely responsible for the content of this announcement.

Luxembourg, 16 November 2018


ADO Properties S.A. successfully places EUR 165 million convertible bonds

ADO Properties S.A. ("ADO Properties", the "Company") announces the successful placement of EUR 165 million senior, unsecured convertible bonds due 23 November 2023 (the "Bonds") convertible into new and/or existing ordinary registered shares of ADO Properties.

The initial conversion price has been set at EUR 60.5690, which represents a 27.5% premium over the reference share price on the pricing date. The reference share price of EUR 47.5051 is equal to the volume-weighted average share price of ADO Properties between opening and close on XETRA on 16 November 2018. The coupon has been set at 1.25% p.a., payable semi-annually in arrear on 23 May and 23 November, commencing on 23 May 2019. Settlement of the transaction will take place on or around 23 November 2018.

The Bonds were placed in an accelerated bookbuilding only with institutional investors.

ADO Group LTD, the main shareholder of the Company, received an allocation in the accelerated bookbuilding reflecting pro rata its current shareholding in the Company.

Rabin Savion, CEO of ADO Properties was pleased with the outcome of the transaction, stating, "This successful placement opens another funding source for us and improves our debt maturity profile by refinancing short term liabilities."

The Company intends to use the net proceeds to repay existing short term debt, extend the Company's debt maturity profile as well as to strengthen the Company's liquidity position.

HSBC acted as Sole Global Coordinator, and together with Barclays Bank PLC, as Joint Bookrunners in relation to the placement of the Bonds.

Investor Relations

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+352 26 26 34 079

Regulated information

This press release contains information that qualifies, or may qualify as inside information within the

meaning of Article 7(1) of the EU Market Abuse Regulation.


About ADO Properties

ADO Properties is a Berlin-focused business active primarily in the residential real estate sector with a portfolio of approximately 23,500 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.



The contents of this press release have been prepared by and are the sole responsibility of the Company and the information contained in this press release is for information purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this press release or its accuracy or completeness. This press release does not contain or constitute or form part of, and should not be construed as, an offer or invitation to sell, or the solicitation of an offer to buy or subscribe for, any securities.

The distribution of this press release and the offer and sale of the securities referred to herein may be restricted by law in certain jurisdictions and persons reading this press release should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

No action has been taken by the Company or any of the joint bookrunners (the "Joint Bookrunners") or any of their respective affiliates that would permit an offering of the Bonds or possession or distribution of this press release or any other offering or publicity material relating to such securities in any jurisdiction where action for that purpose is required.

The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold except pursuant to registration or in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. There was no public offer of the securities referred to herein. The securities have been sold.

16.11.2018 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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