BRIEF-Adler Group Says Agreement With Bondholder Group On Amendment Of Note Terms And Provision Of Secured Debt Financing

Nov 25 (Reuters) - Adler Group SA (ADPPF):

* EQS-ADHOC: ADLER GROUP S.A. (ADPPF): AGREEMENT WITH BONDHOLDER GROUP ON AMENDMENT OF NOTE TERMS AND PROVISION OF SECURED DEBT FINANCING

* BONDHOLDERS HOLD AROUND 45% OF BONDS ISSUED BY ADLER GROUP

* ADLER GROUP INTENDS TO ENTER INTO A CORRESPONDING AGREEMENT WITH A MAJORITY OF ITS BONDHOLDERS IN DUE COURSE

* ADLER GROUP INTENDS THAT AMENDMENT OF TERMS AND CONDITIONS BECOMES EFFECTIVE AT LATEST IN Q1 2023

* MATURITY DATE OF EUR 400,000,000 BOND DUE ON 26 JULY 2024 SHALL BE MOVED TO 31 JULY 2025

* ADLER GROUP (ADPPF)- ADLER GROUP HAS UNDERTAKEN, NOT TO DECLARE OR PAY ANY DIVIDEND OR MAKE ANY OTHER PAYMENT OR DISTRIBUTION TO ANY OF ITS SHAREHOLDERS

* ADLER GROUP HAS ENTERED INTO AN AGREEMENT WITH A CORE GROUP OF BONDHOLDERS TO RECEIVE SECURED DEBT FINANCING OF UP TO EUR 937.5 MILLION

* ADLER GROUP (ADPPF)- LOAN WILL ACCRUE PAYMENT-IN-KIND INTEREST AT A RATE OF 12.5%, HAS A TERM UNTIL 30 JUNE 2025, WILL BE ALLOCATED A CONTINGENT VALUE RIGHT INSTRUMENT

* SECURED CONTINGENT VALUE RIGHT ENTITLES HOLDER TO SUBSCRIBE 25% OF SHARES IN COMPANY AT A "ZERO-STRIKE" PRICE

* ADLER GROUP (ADPPF)- IN EVENT COMPANY HAS NOT DELIVERED SHARES WITHIN SIX YEARS AFTER UTILIZATION OF NEW MONEY FUNDS EQUITY INSTRUMENT WILL BE SETTLED IN CASH

* MATURITY OF LOAN GRANTED BY ADLER REAL ESTATE AG TO ADLER GROUP WILL BE EXTENDED TO 25 APRIL 2023

* INTEREST RATE WILL BE INCREASED TO 5.16% P.A., SUBJECT TO A CONFIRMING TRANSFER PRICING STUDY Source text for Eikon: Further company coverage: