Acquired Notes Offer by Adecco Group: Completion Announced on Two Outstanding Securities
The Adecco Group, the world's leading provider of HR solutions based in Zurich, Switzerland, has announced the successful completion of a tender offer for two existing notes maturing in April 2018 and November 2019. This move is part of the Group's strategy to optimise its debt maturity profile and cost of capital.
On November 23, 2016, Adecco's Refinancing B.V. launched the tender offer for the notes. The Group's rated BBB+ by S&P and Baa1 by Moody's, secured the services of Natixis and SG CIB as Dealer Managers on the Tender Offer.
A total of €152,250,000 was validly tendered for the notes maturing in April 2018, and €185,579,000 for the notes maturing in November 2019. Subject to the successful issuance of New Notes, Adecco's Refinancing B.V. will repurchase these tendered amounts of the 2018 Notes and 2019 Notes.
The purchase yields for the notes maturing in April 2018 and November 2019 are -0.20 per cent and -0.05 per cent respectively. The Group also announced that it has issued €500 million fixed rate notes maturing in 2024.
It is important to note that the materials are not for release, distribution, or publication in certain jurisdictions. The Tender Offer is not being made in certain jurisdictions where it would not be in compliance with securities laws. Moreover, the New Notes will not be registered under the US Securities Act and will not be offered or sold in the United States without registration or an exemption.
The Tender Offer is not an offer to purchase nor a solicitation to tender any of the notes. For investor relations enquiries, please contact [email protected] or +41 (0) 44 878 89 89. For press office enquiries, please contact [email protected] or +41 (0) 44 878 87 87.
The forward-looking statements in this release are not guarantees of future performance. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. All subsequent written and oral forward-looking statements concerning the Group's expected financial results or events may be changed without notice.
This news article provides a summary of the Adecco Group's recent financial move and should not be construed as investment advice. For detailed information, investors are advised to consult the Group's official announcements and financial reports.
- The Adecco Group, known for its HR solutions, recently announced a successful completion of a tender offer for two existing notes, marking a step in their strategy for career transition towards optimizing debt maturity profile and cost of capital.
- The Group's temporary staffing services were assisted by Natixis and SG CIB as Dealer Managers during the tender offer.
- The Group has successfully issued permanent placement notes worth €500 million, maturing in 2024.
- Adecco's outsourcing and talent development initiatives include investing in business areas, as evidenced by their recent issuance of finance notes associated with investing activities.
