This website was built by using the latest techniques and technologies. Unfortunately, your current browser version doesn't support those technologies.

Please upgrade your browser in order to display the website correctly and gain full functionality.

OK, understood
Your bookmarks

Personalise. This is where your personal bookmarks are stored. To add bookmarks, please click the star on the bottom right corner of content tiles or at the bottom of every content page.

Page title Section Added at select
You haven’t added any bookmarks yet.

adidas AG announces early redemption of convertible bond 2003/2018 (ISIN DE0009038968)

Herzogenaurach, October 7, 2009 – On behalf of its Dutch subsidiary adidas International Finance B.V., adidas AG announces that the Company is redeeming the € 400 million convertible bond, issued in August 2003 and guaranteed by adidas AG, pursuant to § 3 (3) of the Terms and Conditions of the Bonds prior to maturity on October 8, 2009, effective November 23, 2009. In accordance with the Terms and Conditions of the Bonds, outstanding bonds will be redeemed on this date at their principal amount plus interest accrued as far as bondholders do not exercise their conversion rights by the end of November 9, 2009.

In light of the current adidas AG share price, the Company expects that most or all bondholders will exercise their conversion rights. If all bondholders exercise their conversion rights, this would result in up to 15,684,313 new shares being issued from the Company’s Contingent Capital 2003/II. The new shares will be entitled to dividends as of the beginning of the financial year 2009.

As far as the conversion rights are exercised, adidas AG will reduce its net debt and increase its equity, bringing the Company closer to its declared goal of financial leverage below 50%.