Adecco: E300m bond issue

(CercleFinance.com) - Adecco announced on Wednesday that it had successfully placed a E300m bond issue, which, amongst other things, is intended to facilitate refinancing.


The issue, which has a maturity of eight months to October 2023, carries a fixed annual coupon of 8.4%, the Swiss group, which is France's leading employment agency network, says.

The temporary staffing specialist explains that the proceeds raised from the loan will be used to finance the company's general corporate needs and to meet upcoming repayment deadlines.

Adecco points out that its debt is rated 'Baa1' by Moody's, with a 'stable' outlook, and 'BBB+' by Standard & Poor's, with a 'negative' outlook.


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