Adcro Group effectively wraps up bond offer for existing securities.
Adecco Group Completes Successful Tender Offer on Existing Notes
The Adecco Group, a leading HR solutions provider, has announced the results of its tender offer on existing notes maturing in November 2022. The tender offer, launched on May 9, 2019, by our Refinancing B.V. in relation to our International Financial Services B.V.'s EUR 500,000,000 1.500 per cent. Notes due 22 November 2022, has contributed to optimizing the Addeco Group's debt maturity profile and cost of capital.
In the tender offer, an aggregate nominal amount of EUR 210,027,000 was validly tendered by Noteholders in relation to the 2022 Notes. Our Refinancing B.V. has accepted EUR 199,995,000 in aggregate nominal amount of 2022 Notes for repurchase. The accrued interest was 0.736 per cent.
Credit Suisse acted as Global Coordinator for the Tender Offer. BNP Paribas and Credit Suisse acted as Dealer Managers on the Tender Offer. The tender offer expired on May 16, 2019.
The purchase price of the tendered notes was not specified in the available information. However, in typical tender offers, a premium over the notes’ principal amount or market price is often offered to incentivize bondholders to tender.
The distribution of this announcement and the Tender Offer Memorandum may be restricted by law in certain jurisdictions. The New Notes are not and will not be registered under the US Securities Act and will not be registered with any authority competent with respect to securities in any state or other jurisdiction of the United States of America. For further information, please contact The Addeco Group Investor Relations.
The Adecco Group, based in Zurich, Switzerland, is listed on the SIX Swiss Exchange (ADEN). The group's financial agenda includes Q2 2019 results on August 8, 2019, Q3 2019 results on November 5, 2019, and Q4 2019 results on February 27, 2020.
For those seeking precise data on Adecco Group’s tender offer, it is recommended to check Adecco Group’s official press releases or investor relations website for announcements regarding tender offers on their indebtedness. Reviewing filings with the SIX Swiss Exchange or SEC (if applicable), where such offers are usually disclosed, and looking for financial news or market reports summarizing the tender outcome may also provide additional information.
The successful tender offer by The Adecco Group optimized its debt maturity profile and cost of capital, as revealed in their notes maturing in November 2022. Through this offer, an opportunity for investors to participate in the Group's business operations was presented. For specific details on the tender offer, investors are encouraged to explore Adecco Group's official press releases, their investor relations website, filings with the SIX Swiss Exchange, SEC (if applicable), and financial news or market reports.
