Adecco successfully issued two bonds for a total of CHF 375 millionJune 28, 2012
Adecco successfully issued two bonds for a total of CHF 375 million
Zurich, Switzerland, June 28, 2012: Adecco Group, the world’s leading provider of Human Resources solutions, successfully issued a CHF 250 million long 5-year bond with a coupon of 1.875% and a CHF 125 million long 8-year bond with a coupon of 2.625% through Adecco S.A. The proceeds will be used for the planned share buyback programme that was announced on June 26, 2012.
Yesterday, the Adecco Group launched two Swiss Franc bonds, issued by Adecco S.A. within the framework of the Euro Medium Term Note Programme. The proceeds will be used to fund the planned share buyback programme of up to EUR 400 million on a second trading line, with the aim of subsequent cancellation of the shares and reduction of the share capital, as announced on June 26, 2012.
The details of the two bonds are as follows:
CHF 250 million
CHF 125 million
December 18, 2017
December 18, 2020
The expected settlement date for the bonds is July 18, 2012.
Adecco Group is currently rated as follows by international rating agencies: Standard & Poor’s (BBB stable) and Moody’s (Baa3 stable).