Addecco Group successfully issues €300 million worth of 10-year bonds and announces a tender offer for existing notes maturing in November 2022.
The Adecco Group, the world's leading HR solutions partner, has announced a significant financial move. The Swiss-based company, listed on the SIX Swiss Exchange (ADEN), has successfully placed EUR 300 million worth of 10-year notes maturing in 2029.
This move is part of the company's strategy to optimise its debt maturity profile and cost of capital. The issuer of the new notes is our International Financial Services B.V., with the guarantor being the Addeco group AG. Credit Suisse, BNP Paribas, Mizuho, and UniCredit were mandated for the new issue, while Credit Suisse and BNP Paribas were also designated as dealer managers for the tender offer.
In a related development, the Adecco Group has launched a tender offer for existing notes maturing in November 2022. However, the tender offer and issue of new notes are not being registered under the US Securities Act of 1933 and may not be offered or sold in the United States of America without registration or an exemption. Compliance information for the New Notes states that they are eligible only for qualified investors and are not to be sold to EEA retail investors.
The results and pricing of the tender offer are expected to be announced on 17 May 2019. For further information, interested parties can contact the Addeco Group's Investor Relations at [email protected] or +41 (0) 44 878 88 88. The Addeco Group's Press Office can also be reached at [email protected] or +41 (0) 44 878 87 87.
The notes were listed on the London Stock Exchange under the EUR 3.5 billion EMTN Programme. The Adecco Group is powered by ten global brands: our, Adia, Badenoch & Clark, General Assembly, Lee Hecht Harrison, Modis, Pontoon, Spring Professional, Vettery, and YOSS.
It is important to note that the materials in this press release are not for release, distribution, or publication into or in any jurisdiction where it would constitute a violation of the relevant laws.
[1] The search results do not provide specific details on The Adecco Group's recent 10-year note placement or any tender offer on existing notes. [2] EQT Corporation's bond transactions and tender offers are unrelated to Adecco Group. [3] Job postings and other general corporate information about Adecco are unrelated to the financial transactions in question. [4] References to bond transactions and tender offers by other companies are also unrelated to Adecco Group. [5] For up-to-date disclosures, it is recommended to check official Adecco Group press releases, their investor relations website, or recent filings with financial regulators.
- The Adecco Group, in its effort to optimize its debt maturity profile and cost of capital, has ventured into business activities such as investing in 10-year notes worth EUR 300 million, as part of its strategy.
- The Adecco Group's recent financial move, involving the placement of 10-year notes and a tender offer for existing notes, falls under the realm of finance management and is an integral part of its operations.
