– NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
– AD HOC Announcement pursuant to Art. 53 LR
– EUR 1 billion senior notes and EUR 500 million inaugural hybrid bond successfully placed
Adecco Group AG (the “Company” or “Adecco Group”) has successfully placed two tranches each of EUR 500 million fixed rate notes, maturing in 2028 and 2031, under its EUR 3.5 billion EMTN Programme (the “New Notes”). At the same time it placed its inaugural subordinated fixed-to-reset rate hybrid bond of EUR 500 million maturing in 2082 (the “Hybrid Bond”). All three issuances are to be listed on the main market of the London Stock Exchange.
Coram Williams, CFO of Adecco Group, said: “Today’s placement of senior and hybrid notes completes the balanced financing package that underpins the Group’s acquisition of AKKA Technologies and ensures we maintain our strong investment grade capital structure. We are pleased to have secured very favourable financing conditions for these long-term notes which were more than 4.5 times oversubscribed. The AKKA Technologies transaction accelerates our strategy and provides a significant value creation opportunity for investors, being growth, margin and earnings enhancing in year one. We expect the deal to close in early 2022.”
