adidas AG: adidas AG signs new ? 500 million revolving credit facility
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adidas AG: adidas AG signs new ? 500 million revolving credit facility
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For immediate release
June 27, 2012
adidas AG signs new
? 500 million revolving credit facility
Herzogenaurach - adidas AG yesterday signed a ? 500 million revolving credit
facility. The new transaction was syndicated as the Group's ? 2 billion
revolving credit facility established in October 2005 expires this year. The
facility secures the Group's financial flexibility and ensures long-term cost-
effective financing.
The new five-year facility incorporates two one-year extension options
exercisable at the end of the first and second year. Bayerische Landesbank, HSBC
Bank plc and Mizuho Corporate Bank Ltd. are acting as Coordinators, and,
together with Citigroup Global Markets Ltd., Deutsche Bank AG, Standard
Chartered Bank, The Bank of Tokyo-Mitsubishi UFJ Ltd., JP Morgan Ltd., Bank of
America Securities Ltd. and UniCredit Bank AG, as Bookrunners.
Syndication was completed among a select group of adidas AG's relationship
banks. The facility was substantially oversubscribed with the support of all the
existing syndicate banks.
"The success of the transaction shows once more the strong standing the adidas
Group enjoys in the international capital markets," said Robin J. Stalker, CFO
of adidas AG. "Throughout the last few years, we have continuously strengthened
our capital structure and diversified our financing. The ongoing strength of our
cash flow generation allows us to reduce the size of the new revolving credit
facility."
adidas AG was able to take advantage of the strong liquidity available in the
syndicated loan market, signing this medium-term facility with a commitment fee
of 14 basis points p.a. The margin is 40 basis points over Euribor. Documentary
conditions were equally favourable.
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 the core brands: adidas,
Reebok, TaylorMade, Rockport and Reebok-CCM Hockey. Headquartered in
Herzogenaurach, Germany, the Group has more than 46,000 employees and generated
sales of over ? 13.3 billion in 2011.
***
Contacts:
Media Relations Investor Relations
Jan Runau John-Paul O'Meara
Chief Corporate Communication Officer Vice President Investor Relations
Tel.: +49 (0) 9132 84-3830 Tel.: +49 (0) 9132 84-2751
Katja Schreiber Christian Stoehr
Director External Corporate Communication Investor Relations Manager
Tel.: +49 (0) 9132 84-3810 Tel.: +49 (0) 9132 84-4989
Lars Mangels Johannes Fink
Corporate Communication Manager Investor Relations Manager
Tel.: +49 (0) 9132 84-2680 Tel.: +49 (0) 9132 84-3461
Please visit our corporate website: www.adidas-Group.com
Attachment: Press release adidas AG signs revolving credit facility:
http://hugin.info/139192/R/1622234/518450.pdf
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Source: adidas AG via Thomson Reuters ONE
[HUG#1622234]
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Datum: 27.06.2012 - 02:00 Uhr
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