adidas AG places ? 500 million Eurobond issue>
adidas AG places ? 500 million Eurobond issue
(Thomson Reuters ONE) - Herzogenaurach - adidas AG today took advantage of the currentlystrong market demand for corporate issuers and launched its inaugural? 500 million Eurobond issue. The Euro benchmark transaction waslaunched by adidas International Finance B.V., a fully owned andguaranteed subsidiary of adidas AG. Proceeds from the bond issue willbe used to partially refinance short-term bank loans and for generalcorporate purposes.The 5-year bond was priced with a spread of 200 basis points (bps)above the respective Euro mid-swap, which is the reference for anydebt issuance in the capital markets. It pays an annual coupon of4.750%. The issue was fixed at 99.865%. The notes will be listed onthe Luxembourg Stock Exchange with denominations of ? 1,000 each.The transaction was multiple times oversubscribed, which allowed theissuer to price significantly below the initial price guidance. Thebond generated strong demand with the majority placed in Germany andSwitzerland with banks and retail intermediaries. Joint lead managersof the transaction were BNP Paribas and Deutsche Bank. "The successful placement of our bond reflects our Group's highcredit quality and our excellent access to the capital markets," saidRobin Stalker, CFO of adidas AG. "This placement will help us furtherimprove the term structure of our existing debt instruments in favourof longer term borrowings."About the adidas GroupThe adidas Group is one of the global leaders within the sportinggoods industry, offering a broad range of products around three coresegments: adidas, Reebok and TaylorMade-adidas Golf. Headquartered inHerzogenaurach, Germany, the Group has more than 38,000 employees andsales of EUR 10.8 billion. ***Contacts:Media Relations Investor RelationsJan Runau John-Paul O'MearaChief Corporate Communications Officer Head of Investor RelationsTel.: +49 (0) 9132 Tel.: +4984-3830 (0) 9132 84-2751Kirsten Keck Dennis WeberCorporate PR Manager Investor Relations ManagerTel.: +49 (0) 9132 84-6207 Tel.: +49 (0) 9132 84-4989Katja SchreiberCorporate PR ManagerTel.: +49 (0) 9132 84-3810Please visit our corporate website: www.adidas-Group.comhttp://hugin.info/139192/R/1327373/312705.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Bereitgestellt von Benutzer: hugin
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Datum: 06.07.2009 - 17:15 Uhr
Sprache: Deutsch
News-ID 3209
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