0QNM Adecco Group Ag

Dow Jones received a payment from Newsbox to publish this press release.

 
 
Result of Tender Offer 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED 
OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, 
ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA OR INTO 
ANY OTHER JURISDICTION OR TO ANY OTHER PERSON WHERE OR TO WHOM IT IS UNLAWFUL TO 
RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT. 
 
THE ADECCO GROUP SUCCESSFULLY COMPLETES TENDER OFFER ON EXISTING NOTES 
 
Zurich, Switzerland, 20 May 2019: the Adecco Group (rated BBB+ by S&P, Baa1 by 
Moody's) announces the results of its tender offer on the existing notes 
maturing in November 2022. 
 
The tender offer that was launched on 9 May 2019 by Adecco Refinancing B.V. in 
relation to Adecco International Financial Services B.V.'s EUR 500,000,000 1.500 
per cent. Notes due 
22 November 2022 (XS1237184533) (the "2022 Notes") (the "Tender Offer") expired 
on 16 May 2019. 
 
An aggregate nominal amount of EUR 210,027,000 was validly tendered by 
Noteholders in relation to the 2022 Notes. Adecco Refinancing B.V. has accepted 
EUR 199,995,000 in aggregate nominal amount of 2022 Notes for repurchase in 
accordance with the terms and subject to the conditions contained in the Tender 
Offer Memorandum dated 9 May 2019. Adecco Refinancing B.V.'s acceptance for 
purchase of EUR 199,995,000 in aggregate nominal amount of 2022 Notes was 
subject to the successful issuance of the New Notes (as defined below) on 20 May 
2019. 
 
Summary of the final pricing and acceptance of the Tender Offer: 
 
+--------------+----------------+--------------+----------------+--------------+ 
|    Final     | Scaling Factor |Purchase Yield| Purchase Price |   Accrued    | 
|  Acceptance  |                |              |                |   Interest   | 
|    Amount    |                |              |                |              | 
+--------------+----------------+--------------+----------------+--------------+ 
|     EUR      |  96.5499 per   |  -0.10 per   |  105.223 per   |  0.736 per   | 
| 199,995,000  |     cent.      |    cent.     |     cent.      |    cent.     | 
+--------------+----------------+--------------+----------------+--------------+ 
 
The Tender Offer, in combination with the placement on 9 May 2019 of EUR 
300,000,000 fixed rate notes maturing in 2029 with a 1.250 per cent. coupon by 
Adecco International Financial Services B.V. (the "New Notes"), contributes to 
optimising the Adecco Group's debt maturity profile and cost of capital, in line 
with the Adecco Group's objectives. 
 
Credit Suisse acted as Global Coordinator. BNP Paribas and Credit Suisse acted 
as Dealer Managers on the Tender Offer. 
 
For further information please contact: 
 
The Adecco Group Investor Relations 
 
investor.relations@adeccogroup.com or +41 (0) 44 878 88 88 
 
The Adecco Group Press Office 
 
media@adeccogroup.com or +41 (0) 44 878 87 87 
 
Disclaimer 
 
This announcement must be read in conjunction with the Tender Offer Memorandum. 
No offer or invitation to acquire any securities is being made pursuant to this 
announcement. The distribution of this announcement and the Tender Offer 
Memorandum in certain jurisdictions may be restricted by law. Persons into whose 
possession this announcement and/or the Tender Offer Memorandum comes are 
required by each of Adecco Refinancing B.V., the Dealer Managers and the Tender 
Agent to inform themselves about, and to observe, any such restrictions. 
 
This press release does not constitute an offer or an invitation to subscribe 
for or purchase the New Notes and should not be considered as a recommendation 
to subscribe for or purchase the New Notes. The offer of the New Notes referred 
to in this press release shall be limited to qualified investors only. The New 
Notes are not and will not be registered under the US Securities Act of 1933, as 
amended (the "US Securities Act") and will also not be registered with any 
authority competent with respect to securities in any state or other 
jurisdiction of the United States of America. The New Notes may not be offered 
or sold in the United States of America without either registration of the 
securities or an exemption from registration under the US Securities Act being 
applicable. 
 
These materials are not for release, distribution or publication, whether 
directly or indirectly and whether in whole or in part, into or in any 
jurisdiction where to do so would constitute a violation of the relevant laws of 
such jurisdiction. 
 
Compliance information for the New Notes: MiFID II professionals/ECPs-only/No 
PRIIPs KID ??" eligible counterparties and professional clients only (all 
distribution channels). No sales to EEA retail investors; no key information 
document has been or will be prepared. See the base prospectus dated 22 March 
2019, as supplemented by the supplement dated 7 May 2019 and the Final Terms 
relating to the New Notes for further information. 
 
Financial Agenda 
 
 · Q2 2019 results 8 August 2019 
 · Q3 2019 results 5 November 2019 
 · Q4 2019 results 27 February 2020 
 
Forward-looking statements 
Information in this release may involve guidance, expectations, beliefs, plans, 
intentions or strategies regarding the future. These forward-looking statements 
involve risks and uncertainties. All forward-looking statements included in this 
release are based on information available to Adecco Group AG as of the date of 
this release, and we assume no duty to update any such forward-looking 
statements. The forward-looking statements in this release are not guarantees of 
future performance and actual results could differ materially from our current 
expectations. Numerous factors could cause or contribute to such differences. 
Factors that could affect Adecco Group AG's forward-looking statements include, 
among other things: global GDP trends and the demand for temporary work; changes 
in regulation of temporary work; intense competition in the markets in which 
Adecco Group AG operates; integration of acquired companies; changes in Adecco 
Group AG's ability to attract and retain qualified internal and external 
personnel or clients; the potential impact of disruptions related to IT; any 
adverse developments in existing commercial relationships, disputes or legal and 
tax proceedings. 
 
About the Adecco Group 
The Adecco Group is the world's leading HR solutions partner. We provide more 
than 700,000 people with permanent and flexible employment every day. With more 
than 34,000 employees in 60 countries, we transform the world of work one job at 
a time. Our colleagues serve more than 100,000 organisations with the talent, HR 
services and cutting-edge technology they need to succeed in an ever-changing 
global economy. As a Fortune Global 500 company, we lead by example, creating 
shared value that meets social needs while driving business innovation. Our 
culture of inclusivity, fairness and teamwork empowers individuals and 
organisations, fuels economies, and builds better societies. These values 
resonate with our employees, who voted us number 5 on the Great Place to Work® - 
World's Best Workplaces 2018 list. We make the future work for everyone. 
 
The Adecco Group is based in Zurich, Switzerland. Adecco Group AG is registered 
in Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN). 
The group is powered by ten global brands: Adecco, Adia, Badenoch & Clark, 
General Assembly, Lee Hecht Harrison, Modis, Pontoon, Spring Professional, 
Vettery and YOSS. 
 
Press Release (PDF) 
 
### END ### 
 
+---------------------------++--------------++---------------------------------+ 
|Provider                   ||Channel       ||Contact                          | 
+---------------------------++--------------++---------------------------------+ 
|Tensid EQS Ltd.,           ||newsbox.ch    ||Provider/Channel related         | 
|Switzerland                ||www.newsbox.ch||enquiries                        | 
|www.tensid.ch              ||              ||marco@tensid.ch                  | 
|                           ||              ||+41 41 763 00 50                 | 
+---------------------------++--------------++---------------------------------+ 
 
 

(END) Dow Jones Newswires

May 20, 2019 01:00 ET (05:00 GMT)

Adecco (LSE:0QNM)
Gráfica de Acción Histórica
De Abr 2024 a May 2024

Adecco (LSE:0QNM)
Gráfica de Acción Histórica
De May 2023 a May 2024