Adidas AG has successfully placed a €500 million bond with a 2.75 percent coupon that will mature in November 2030.
The company plans to use proceeds from the offering for general corporate purposes, including the refinancing of upcoming maturities. Specifically, the funds will help refinance a €500 million bond that is due on November 21, 2025.
The bond has a €100,000 denomination and will be listed on the Luxembourg Stock Exchange (Euro MTF). The orderbook was more than four times oversubscribed at its peak, indicating strong investor interest.
“The attractive terms of today’s placement show that we have made great progress both in terms of our business and our financial profile since the beginning of 2023,” said Adidas CFO Harm Ohlmeyer. “With our leverage ratio at 1.6x and a strong balance sheet, we are well positioned to navigate through external volatility and to continue supporting the strong growth of our brand.”
BNP Paribas served as global coordinator for the transaction. Deutsche Bank, J.P. Morgan, and UniCredit acted as joint active bookrunners, while BBVA and DZ Bank AG served as passive bookrunners.
Image courtesy Adidas AG
