Adrecco raise bonds totaling CHF 375 million successfully
The Adecco Group, a leading provider of HR solutions based in Zurich, Switzerland, has announced the issuance of two Swiss Franc bonds on June 28, 2012. The total principal amount of the issued bonds is CHF 375 million.
The first bond has a principal amount of CHF 250 million, a coupon of 1.875% p.a., a maturity of December 18, 2017, and an issue price of 100.108%. The second bond has a principal amount of CHF 125 million, a coupon of 2.625% p.a., a maturity of December 18, 2020, and an issue price of 100.105%. The proceeds from these bonds will be used for a planned share buyback programme of up to EUR 400 million.
The financial agenda for 2012 includes the release of Q2 2012 results on August 9, 2012, Q3 2012 results on November 6, 2012, and Investor Days on September 19/20, 2012. Actual results could differ materially from current expectations due to numerous factors such as global GDP trends, changes in regulation of temporary work, intense competition, integration of acquired companies, changes in the ability to attract and retain personnel or clients, and potential disruptions related to IT.
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 company's forward-looking statements are based on information available as of the date of the release and no duty is assumed to update them. The reasons for the 2012 share buyback program by the Adecco Group are not explicitly stated in the available documents. However, based on typical corporate practice and the information from similar programs by other companies, share buybacks are usually conducted to return value to shareholders, optimize the company's capital structure, use excess cash efficiently, and support shares for employee share option plans.
For inquiries, contact the Corporate Investor Relations at [email protected] or +41 (0) 44 878 89 89. The corporate press office can be contacted at [email protected] or +41 (0) 44 878 87 87. The Adecco Group is a Fortune Global 500 company and is currently rated as BBB stable by Standard & Poor's and Baa3 stable by Moody's. The company is registered in Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN).
[1] [5] - Searched documents do not explicitly mention the reason behind the share buyback program by Adecco Group in June 2012. [3] - Kambi Group plc's recent buyback program aimed at satisfying future obligations from employee share option programs.
- The Adecco Group announced a share buyback program of up to EUR 400 million, a common practice among companies to return value to shareholders, optimize the company's capital structure, use excess cash efficiently, and support shares for employee share option plans.
- Adopting a similar strategy, Kambi Group plc recently initiated a buyback program to satisfy future obligations from employee share option programs.
- Adecco Group, a leading HR solutions provider, offers a wide variety of services, including temporary staffing, permanent placement, career transition, talent development, and outsourcing, aiming to connect around 700,000 associates with over 100,000 clients daily.
- In the financial year 2012, the Adecco Group released Q2 and Q3 results, held Investor Days, and planned a share buyback program; however, the reasons for the latter are not explicitly mentioned in the available documents.
