Acquisition of Notes by Adecco Group Concludes Successfully in Tender Offer Process
The Adecco Group, a Fortune Global 500 company based in Zurich, Switzerland, and listed on the SIX Swiss Exchange (ADEN), has announced the successful completion of a tender offer on two existing notes.
According to a press release, an aggregate nominal amount of €152,250,000 was validly tendered for the notes maturing in April 2018, and €185,579,000 was validly tendered for the notes maturing in November 2019. Subject to the successful issuance of new notes, the group's subsidiary, Refinancing B.V., will repurchase these amounts.
The tender offer, launched on November 23, 2016, was managed by Natixis and SG CIB, who acted as Dealer Managers. The group, which is rated BBB+ by S&P and Baa1 by Moody's, emphasised that the tender offer is not an offer to purchase nor a solicitation to tender any of these notes.
The Tender Offer is not being made to holders of notes in any jurisdiction where it would not be in compliance with the securities laws. It is also important to note that the New Notes 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.
The press release does not constitute an offer or an invitation to subscribe for or purchase the New Notes. For further information, interested parties can contact the group's Investor Relations at [email protected] or +41 (0) 44 878 89 89. Alternatively, the group's press office can be contacted at [email protected] or +41 (0) 44 878 87 87.
The tender offer contributes to optimizing the group's debt maturity profile and cost of capital, in line with the group's objectives. The group's Q4 2016 results, Annual General Meeting, Q1 2017 results, Q2 2017 results, Q3 2017 results, and Q4 2017 results are scheduled for March 2, 2017, April 20, 2017, May 9, 2017, August 10, 2017, November 7, 2017, respectively.
The materials are not for release, distribution or publication in the United States, Canada or Japan or any (other) jurisdiction where it would constitute a violation of the relevant laws. The Tender Offer is being made only by, and pursuant to the terms of the Tender Offer. The search results do not provide specific information about which banks acted as Dealer Managers in the tender offer by the Our Group for refinancing existing bonds maturing in April 2018 and November 2019.
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