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adidas AG places € 500 million Eurobond issue

July 06, 2009

Herzogenaurach, July 6, 2009 – adidas AG today took advantage of the currently strong market demand for corporate issuers and launched its inaugural € 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 corporate purposes.

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 € 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.”