Adecco’s €500 Million Hybrid Bonds Offering

Homburger advised Adecco Group AG in the transaction.

Adecco successfully priced its EUR 500 m Subordinated Fixed-to-Reset Rate Securities due 2082. The hybrid bonds were issued by Adecco International Financial Services B.V. and guaranteed, on a subordinated basis, by Adecco Group AG. Application will be made for the hybrid bonds to be admitted to the Official List and to the London Stock Exchange for the admission to trading on the Main Market.

J.P. Morgan and Société Générale Corporate & Investment Banking acted as Joint Structuring Agents to the issuer and the guarantor. Barclays, BNP Paribas (B&D), J.P. Morgan, Société Générale Corporate & Investment Banking and UBS Investment Bank acted as Joint Lead Managers.

The Homburger team was led by partners Daniel Daeniker (Picture – Corporate / M&A and Capital Markets) and Benjamin Leisinger (Capital Markets) and included counsel Eduard De Zordi (Capital Markets).

Involved fees earner: Daniel Daeniker – Homburger; Eduard De Zordi – Homburger; Benjamin Leisinger – Homburger;

Law Firms: Homburger;

Clients: Adecco;

Author: Federica Tiefenthaler