Adecco gives new issue spread range in exchange, tender offers for 4.5% notes, 7.625% notes

By Jennifer Chiou

New York, April 6 - Adecco Group announced the new issue spread range for Adecco International Financial Services BV's tender and exchange offers for its €500 million of 4.5% guaranteed notes due 2013 and its €500 million of 7.625% notes due 2014.

In the exchange, the company is offering euro-denominated fixed-rate notes due 2018 under its €2 billion euro medium-term note program.

The new issue spread range is 140 basis points to 150 bps, and the final spread will be determined on Thursday.

The new notes will be guaranteed by Adecco SA.

The cash tender and exchange offers began on March 31.

The joint dealer managers are Societe Generale (33 1 42 13 87 36, attn: Cyril Chatelain; liability.management@sgcib.com) and the Royal Bank of Scotland plc (44 20 7085 3781/8056, attn: Gianmarco Deiana or Andrew Burton; liabilitymanagement@rbs.com).

The exchange and tender agent is Lucid Issuer Services Ltd. (44 20 7704 0880, attn: Thomas Choquet/Sunjeeve Patel; adecco@lucid-is.com).

Zurich, Switzerland-based Adecco is provider of human resources services.

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