Adecco Intl Financial Services B.V. Tender Offer - Indicative Results Announcement (8649V)

TIDM65KV

RNS Number : 8649V

Adecco Intl Financial Services B.V.

06 December 2023

Adecco International Financial Services B.V. announces Indicative Results of Tender Offer for its

EUR500,000,000 1.000 per cent. Notes due 2 December 2024

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (UK MAR).

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA OR INTO ANY OTHER JURISDICTION OR TO ANY OTHER PERSON WHERE OR TO WHOM IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT

6 December 2023 . Adecco International Financial Services B.V. (the Company) announces today the indicative results of its invitation to holders of its outstanding EUR500,000,000 1.000 per cent. Notes due 2 December 2024 (ISIN: XS1527526799) (the Notes) (such Notes being guaranteed by Adecco Group AG), to tender their Notes for purchase by the Company for cash (such invitation the Offer).

The Offer was announced on 28 November 2023, and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 28 November 2023 (the Tender Offer Memorandum) prepared by the Company. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

The Expiration Deadline for the Offer was 5.00 p.m. (CET) on 5 December 2023.

The Company has received valid tenders of EUR69,647,000 in aggregate nominal amount of the Notes for purchase pursuant to the Offer. If the Company decides to accept Notes validly tendered for purchase pursuant to the Offer, it expects to set the Final Acceptance Amount at EUR69,647,000 in aggregate nominal amount of the Notes and, accordingly, it expects to accept for purchase all validly tendered Notes in full, with no pro rata scaling.

A summary of the indicative results of the Offer appears below:

 
    Description of                             Expected Final     Expected Scaling 
       the Notes         ISIN/ Common Code    Acceptance Amount        Factor 
----------------------  ------------------  -------------------  ----------------- 
    EUR500,000,000        XS1527526799 /       EUR69,647,000       Not Applicable 
    1.000 per cent.          152752679 
  Notes due 2 December 
          2024 
 

Noteholders should note that this is a non-binding indication of the level at which the Company expects to set the Final Acceptance Amount and the Scaling Factor.

Pricing for the Offer will take place at or around 11.00 a.m. (CET) today (the Pricing Time). As soon as reasonably practicable after the Pricing Time, the Company will announce whether it will accept any valid tenders of Notes pursuant to the Offer and, if so accepted, the Final Acceptance Amount, the 1 Year Mid-Swap Rate, the Purchase Yield, the Purchase Price, and the Scaling Factor that will be applied to tenders of the Notes (if applicable).

The Settlement Date in respect of those Notes (if any) accepted for purchase is expected to be 8 December 2023.

Barclays Bank Ireland PLC (Telephone: [phone]; Attention: Liability Management Group; Email: [e-mail]) and Standard Chartered Bank AG (Telephone: [phone]; Attention: Liability Management Group; Email: [e-mail] ) are acting as Dealer Managers for the Offer and Kroll Issuer Services Limited (Telephone: [phone]; Attention: Jacek Kusion; Email: [e-mail]; Offer Website: https://deals.is.kroll.com/adecco ) is acting as Tender Agent.

Further details relating to the contents of this announcement can be obtained from:

Benita Barretto

Group SVP Investor Relations

Email: [e-mail]

For the purposes of UK MAR and the Implementing Technical Standards, this announcement is made by Sandra Veuger, Manager Reporting at the Company.

LEI Number (Adecco International Financial Services B.V.): 549300PDNGPM4PIAUK57

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire any securities is being made pursuant to this announcement. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Company, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

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December 06, 2023 03:57 ET (08:57 GMT)