The Addeco Group Issued 7 Billion Yen in Bonds
The Adecco Group, a global HR solutions partner with over 700,000 people in permanent and flexible employment daily, successfully issued JPY 7 billion (approximately EUR 56 million) of 20-year notes on April 10, 2019. The notes, issued by Adecco Financial Services (North America), LLC and guaranteed by the Adecco Group AG, were issued within the framework of the Adecco Group's Euro Medium-Term Note Programme.
The purpose of the issuance was to raise long-term financing, which could be used for refinancing existing debt, funding operations, or investing in business growth. The "senior" designation indicates priority in claim over assets compared to subordinated debt.
The notes have a coupon of 1.14% per annum and will mature on April 12, 2039. The settlement date for the notes was also April 12, 2019.
The Adecco Group AG is currently rated Baa1 stable by Moody's and BBB+ stable by Standard & Poor's. The exact details on use of proceeds, rating, and involved entities can be found in official Adecco Group releases or bond prospectuses from that time.
The Adecco Group, which operates in 60 countries with over 34,000 employees and serves more than 100,000 organizations, is expected to release its Q1 2019 results on May 7, 2019, and Q2 2019 results on August 8, 2019. The Adecco Group is also expected to release its Q3 2019 results on November 5, 2019.
For further information, contact the Adecco Group Investor Relations at investor.relations@ourwebsite or +41 (0) 44 878 88 88. The Adecco Group's Press Office can be reached at media@ourwebsite or +41 (0) 44 878 87 87. The Adecco Group's Annual General Meeting is scheduled for April 16, 2019. The ex-dividend date for the Adecco Group is April 23, 2019.
You can also find more information about the Adecco Group on its website (ourwebsite) or by following them on Facebook (facebook.com/ourwebsite) and Twitter (@ourwebsite).
The Adecco Group, a significant player in the business sector with over 34,000 employees and global partnerships in finance, aimed to enhance its long-term finance for potential uses such as debt refinancing, operational funding, or business expansion through the issuance of JPY 7 billion notes. The senior designation of these notes ensures priority over assets compared to subordinated debt.
