Herzogenaurach - adidas AG today took advantage of the currently
strong market demand for corporate issuers and launched its inaugural
Â¤ 500 million Eurobond issue. The Euro benchmark transaction was
launched by adidas International Finance B.V., a fully owned and
guaranteed subsidiary of adidas AG. Proceeds from the bond issue will
be used to partially refinance short-term bank loans and for general
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 any
debt issuance in the capital markets. It pays an annual coupon of
4.750%. The issue was fixed at 99.865%. The notes will be listed on
the Luxembourg Stock Exchange with denominations of Â¤ 1,000 each.
The transaction was multiple times oversubscribed, which allowed the
issuer to price significantly below the initial price guidance. The
bond generated strong demand with the majority placed in Germany and
Switzerland with banks and retail intermediaries. Joint lead managers
of the transaction were BNP Paribas and Deutsche Bank.
"The successful placement of our bond reflects our Group's high
credit quality and our excellent access to the capital markets," said
Robin Stalker, CFO of adidas AG. "This placement will help us further
improve the term structure of our existing debt instruments in favour
of longer term borrowings."
About the adidas Group
The adidas Group is one of the global leaders within the sporting
goods industry, offering a broad range of products around three core
segments: adidas, Reebok and TaylorMade-adidas Golf. Headquartered in
Herzogenaurach, Germany, the Group has more than 38,000 employees and
sales of EUR 10.8 billion.
Media Relations Investor
Jan Runau John-Paul
Chief Corporate Communications Officer Head of
Tel.: +49 (0) 9132 Tel.: +49
84-3830 (0) 9132
Kirsten Keck Dennis Weber
Corporate PR Manager Investor
Tel.: +49 (0) 9132 84-6207 Tel.: +49
Corporate PR Manager
Tel.: +49 (0) 9132 84-3810
Please visit our corporate website: www.adidas-Group.com
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.