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:
2017 bond |
2020 bond |
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Principal amount: |
CHF 250 million |
Principal amount: |
CHF 125 million |
|
Coupon: |
1.875% p.a. |
Coupon: |
2.625% p.a. |
|
Maturity: |
December 18, 2017 |
Maturity: |
December 18, 2020 |
|
Issue price: |
100.108 % |
Issue price: |
100.105% |
|
Redemption price: |
100% |
Redemption price: |
100% |
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).
For any other questions please contact:
Adecco Corporate Investor Relations
Investor.relations@adecco.com or +41 (0) 44 878 89 89
Adecco Corporate Press Office
Press.office@adecco.com or +41 (0) 44 878 87 87
Financial Agenda 2012
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August 9, 2012 |
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September 19/20, 2012 |
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November 6, 2012 |
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 S.A. 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 the Company’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 the Company operates; integration of acquired companies; changes in the Company’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, based in Zurich, Switzerland, is the world’s leading provider of HR solutions. With more than 33,000 FTE employees and over 5,500 branches, in over 60 countries and territories around the world, Adecco Group offers a wide variety of services, connecting around 700,000 associates with over 100,000 clients every day. The services offered fall into the broad categories of temporary staffing, permanent placement, career transition and talent development, as well as outsourcing and consulting. The Adecco Group is a Fortune Global 500 company.
Adecco S.A. is registered in Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN).