Ashurst advised Global Loan Agency Services GmbH (GLAS) as security agent in connection with the restructuring of Adler Group S.A. and its subsidiaries. The restructuring included amendments to the terms and conditions of certain bonds with an aggregate nominal amount of €3.2bn and the provision of a new secured debt financing of up to €937.5m to stabilise operations and the group’s capital structure.
The Adler group of companies is one of Germany’s largest landlords, holding 26,202 units with an aggregated gross asset value of approximately €5.2bn as of December 31, 2022.
The Ashurst team was led by partner Dr Matthias Weissinger (Global Loans). He was assisted by counsel Judit Körmöczi (Global Loans), counsel Volker Germann (Corporate/M&A) and associate Chris Cerny (Corporate Transactions).
Ashurst’s German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lending.
