Adcco Group has successfully issued €300 million in 10-year notes and announced a tender offer for existing notes maturing in November 2022.
The Adecco Group, a global leader in HR solutions, has recently made significant moves in the financial market. On one hand, the company has launched a tender offer for existing notes maturing in November 2022, aiming to manage its debt profile or extend maturities. On the other hand, it has successfully placed EUR 300 million worth of 10-year notes, indicating confidence in the company’s creditworthiness and strategy.
The tender offer for EUR 500,000,000 worth of 1.500% Notes due in November 2022 is being made only by, and pursuant to the terms of the Tender Offer. The results and pricing of the tender offer are expected to be announced on 17 May 2019. It's important to note that the tender offer is not available to holders of notes in any jurisdiction where it would not be in compliance with the securities or other laws of such jurisdiction.
In a separate development, the Adecco Group has successfully placed EUR 300 million worth of 10-year notes. The notes, maturing in 2029, have a coupon of 1.250%. The notes were issued under the EUR 3.5 billion Euro Medium Term Note (EMTN) Programme and were listed on the London Stock Exchange.
The Adecco Group has a strong financial agenda, with Q2 2019 results scheduled for 8 August 2019, Q3 2019 results on 5 November 2019, and Q4 2019 results on 27 February 2020. The company's culture of inclusivity, fairness, and teamwork empowers individuals and organizations, fuels economies, and builds better societies. These values resonated with employees, who voted the company number 5 on the Great Place to Work® - World's Best Workplaces 2018 list.
The Adecco Group is based in Zurich, Switzerland and is listed on the SIX Swiss Exchange (ADEN). The company is powered by ten global brands: Adecco, Adia, Badenoch & Clark, General Assembly, Lee Hecht Harrison, Modis, Pontoon, Spring Professional, Vettery, and YOSS. As the world's leading HR solutions partner, the group provides more than 700,000 people with permanent and flexible employment every day.
The tender offer for existing notes and the placement of new 10-year notes are subject to certain conditions, including the successful completion of the issue of the new notes. The offer of the New Notes referred to in this press release shall be limited to qualified investors only. Credit Suisse, BNP Paribas, Mizuho, and UniCredit have been mandated for the new issue.
For detailed, up-to-date information on these specific transactions, it's recommended to consult The Adecco Group's official financial disclosures, press releases, or investor relations communications released around the dates of these events.
The Adecco Group, carrying out its robust financial agenda, is making a tender offer for existing notes maturing in November 2022, indicating an intention to manage its debt profile or extend maturities, and has also successfully placed EUR 300 million worth of 10-year notes, showcasing confidence in its business and creditworthiness. Investors seeking detailed information about these transactions can refer to The Adecco Group's official financial disclosures, press releases, or investor relations communications.
