French Billet de Trésorerie Programme Information

Documentation Financière
Information Memorandum
(Dossier de Présentation Financière)
Name of the Programme:
ADECCO INTERNATIONAL FINANCIAL SERVICES BV, French
Billets de Trésorerie
Name of the Issuer:
ADECCO INTERNATIONAL FINANCIAL SERVICES BV
Type of Programme:
French Billets de Trésorerie Programme
Programme size:
EUR 400,000,000
Guarantor: ADECCO S.A.
Ratings of the Programme *:
A-2 Standard & Poor’s
Arranger:
Société Générale
Issuing and Paying Agent (Agent Domiciliataire):
Société Générale
Dealers:
BNP PARIBAS, CIC, CREDIT AGRICOLE CORPORATE AND
INVESTMENT BANK, ING BANK NV, Société Générale and
NATIXIS
Effective date of The Information Memorandum:
May 21, 2013
Disclaimer clauses for Dealer(s), IPA(s) and Arranger(s):
See Important Notice
The Billets de Trésorerie have not been and will not be registered under the Securities Act of 1933, as amended (the
“Securities Act”), or any other laws or regulations of any state of the United States of America, and may not be offered or
sold within the United States of America, or to, or for the account or benefit of, U.S. persons (as defined in accordance with
Regulation S under the Securities Act).
* See Important Notice
Prepared in compliance with Articles L.213-1 A to L.213-4-1 of the Code Monétaire et Financier
An original copy of this document is sent to:
BANQUE DE FRANCE Direction Générale des Opérations, Direction de la Stabilité Financière
35-1134 Service des Titres de Créances Négociables 39, rue Croix des Petits Champs 75049 PARIS CEDEX 01
A l’attention du chef de service
IMPORTANT NOTICE
This Dossier de Présentation Financière (together with any supplement to this
Documentation Financière and appendices, the Documentation Financière)
contains summary information provided by ADECCO INTERNATIONAL FINANCIAL
SERVICES BV (the Issuer) in connection with a Billets de Trésorerie Programme
(the “Programme”) under which the Issuer may issue and have outstanding at any
time Billets de Trésorerie up to the Programme Size as indicated in §1.6 below.
Under the Programme, the Issuer may issue Billets de Trésorerie to be sold in
respect with Selling Restrinctions as indicated below in § 1.22 Selling Restrictions.
Neither the delivery of this Documentation Financière nor any offer or sale made
on the basis of the information in this Documentation Financière shall under any
circumstances create any implication that this Documentation Financière is
accurate at any time subsequent to the date hereof with respect to the Issuer or
that there has been no change in the affairs of the Issuer since the date hereof
(save in so far as this Documentation Financière, as the same may be updated,
amended, supplemented or superseded from time to time, may include disclosures
concerning the Issuer).
No person is authorised by the Issuer to give any information or to make any
representation not contained in this Documentation Financière and any
information or representation not contained herein must not be relied upon as
having been authorised.
The information contained in this Documentation Financière is not and should not
be construed as a recommendation or a statement of opinion (or a report of either
of those things) by the Arranger or the Dealers or the Issuer that any recipient
should purchase Billets de Trésorerie in the Programme. Each such recipient must
make and shall be deemed to have made its own independent assessment and
investigation of the Programme as it may deem necessary and must base any
investment decision upon such independent assessment and investigation and not
on this Documentation Financière.
Neither the Arranger nor any Dealer has independently verified the information
contained in this Information Memorandum. Accordingly, no representation or
warranty or undertaking (express or implied) is made, and no responsibility or
liability is accepted by the Arranger or the Dealers as to the authenticity, origin,
validity, accuracy, completeness or distribution of, or any errors in or omissions
from any information or statement contained in this Documentation Financière or
in or from, any accompanying or subsequent material or presentation.
Neither the Arranger nor any Dealer undertakes to review the business or financial
condition or affairs of the Issuer during the life of the Programme, nor undertakes
to advise any recipient of the Documentation Financière of any information or
change in such information coming to the Arranger's or any Dealer's attention.
This Documentation Financière contains references to ratings. A rating is not a
recommendation to buy, sell or hold securities and may be subject to suspension,
reduction or withdrawal at any time by the relevant rating agency.
Neither the Arranger nor any of the Dealers accepts any liability in relation to this
Documentation Financière or its distribution by any other person. This
Documentation Financière does not, and is not intended to, constitute an offer or
invitation to any person to purchase Billets de Trésorerie. The distribution of this
Documentation Financière and the offering for sale of Billets de Trésorerie or any
interest in such Billets de Trésorerie or any rights in respect of such Billets de
Trésorerie, in certain jurisdictions, may be restricted by law. Persons obtaining this
Documentation Financière or any Billets de Trésorerie or any interest in such
Billets de Trésorerie or any rights in respect of such Billets de Trésorerie are
required by the Issuer, the Arranger and the Dealers to inform themselves about
and to observe any such restrictions. In particular, but without limitation, such
2
persons are required to comply with the restrictions on offers or sales of Billets de
Trésorerie and on distribution of this Documentation Financière and other
information in relation to the Billets de Trésorerie and the Issuer set out under
§1.22 "Selling Restrictions" below.
Appendices
Any statement contained in a document joint as appendice into this
Documentation Financière shall be deemed to be modified or superseded to the
extent that a statement contained in any subsequent document which also is or is
deemed to be joint as appendice into this Documentation Financière modifies or
supersedes such statement (whether expressly, by implication or otherwise). Any
statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this Documentation Financière.
Interpretation
In this Documentation Financière, references to “EUR”, "Euros" and "€" refer to
the single currency of participating member states of the European Union;
references to "Sterling" and "£" are to the lawful currency of the United Kingdom;
references to "U.S. Dollar" and "U.S.$" are to the lawful currency of the United
States of America and references to "Yen" and "¥" are to the lawful currency of
Japan.
Where this Documentation Financière refers to the provisions of any other
document, such reference should not be relied upon and the document must be
referred to for its full effect.
Ratings
Tax
Such ratings are only accurate as of the date hereof, as they have been obtained
with the understanding that Standard & Poor’s, Moody’s will continue to monitor
the credit of the Guarantor and make future adjustments to such ratings to the
extent warranted. The ratings may be changed, superseded or withdrawn, and
therefore, a prospective purchaser should check the current ratings before
purchasing the Billets de Trésorerie.
No comment is made or advice given by the Issuer, the Arranger or any Dealer in
respect of taxation matters relating to the Billets de Trésorerie and each investor
is advised to consult its own professional adviser.
Under EC Council Directive 2003/48/EC on the taxation of savings income,
Member States are required, from 1st July, 2005, to provide to the tax authorities
of another Member State details of payments of interest (or similar income) paid
by a person within its jurisdiction to an individual resident in that other Member
State.
Interpretation
In this Documentation Financière, references to “EUR”, "Euros" and "€" refer to
the single currency of participating member states of the European Union;
references to "Sterling" and "£" are to the lawful currency of the United Kingdom;
references to "U.S. Dollar" and "U.S.$" are to the lawful currency of the United
States of America and references to "Yen" and "¥" are to the lawful currency of
Japan.
Where this Documentation Financière refers to the provisions of any other
document, such reference should not be relied upon and the document must be
referred to for its full effect.
Appendices
Any statement contained in a document joint as appendice into this
Documentation Financière shall be deemed to be modified or superseded to the
extent that a statement contained in any subsequent document which also is or is
deemed to be joint as appendice into this Documentation Financière modifies or
3
supersedes such statement (whether expressly, by implication or otherwise). Any
statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this Documentation Financière.
4
TABLE OF CONTENTS
IMPORTANT NOTICE
FRENCH SECTION
RESUME DE LA DOCUMENTATION FINANCIERE
I
SOMMAIRE DU PROGRAMME
II
INFORMATION CONCERNANT L’EMETTEUR ET LE GARANT
III
CERTIFICATION D’INFORMATION
IV
INFORMATION CONCERNANT LA DEMANDE DE LABEL STEP PAR
L’EMETTEUR
ANNEXES
ANNEXE I
Rapport annuels et comptes
ADECCO INTERNATIONAL FINANCIAL SERVICES BV 2012
Annual Report
ADECCO INTERNATIONAL FINANCIAL SERVICES BV 2011
Annual Report
ADECCO SA 2012 Annual Report
ADECCO SA 2011 Annual Report
ANNEXE II
ANNEXE III
Rapports des auditeurs
Notation(s) du Programme de l’Emetteuret du Garant,
informations complémentaires
Lettre de Notation de Standard & Poor’s
ANNEXE IV
Garantie
ENGLISH SECTION
I
II
III
IV
SUMMARY OF THE PROGRAMME
INFORMATION CONCERNING THE ISSUER AND THE GUARANTOR
CERTIFICATION OF INFORMATION
INFORMATION CONCERNING THE ISSUER’S REQUEST OF THE STEP
LABEL
APPENDICES
APPENDIX I
Issuer Annual reports and financial accounts
ADECCO INTERNATIONAL FINANCIAL SERVICES BV 2012
Annual Report
ADECCO INTERNATIONAL FINANCIAL SERVICES BV 2011
Annual Report
5
ADECCO SA 2012 Annual Report
ADECCO SA 2011 Annual Report
APPENDIX II
APPENDIX III
APPENDIX IV
Reports of independent auditors
Rating(s) of the Programme of the Issuer and of the
Guarantor, additional information
Standard & Poor’s rating letter
Guarantee
6
FRENCH SECTION
I.
SOMMAIRE DU PROGRAMME
DESCRIPTION DU PROGRAMME DE Billets de Trésorerie
Articles D. 213-9, II, 1°, et 213-11 du Code Monétaire et Financier et Art. 1 de l’arrêté du 13
février 1992 modifié et les réglementations postérieures.
1.1
Nom du Programme :
1.2
Type de programme :
ADECCO INTERNATIONAL FINANCIAL SERVICES BV French
Billets de Trésorerie
Programme de Titres de Créances Négociables (Billets de Trésorerie) de droit français,
conformément aux articles L.213-1 A à L.213-4-1 du Code Monétaire et Financier et à toutes les
réglementations applicables.
1.3
Nom de l'Emetteur :
ADECCO INTERNATIONAL FINANCIAL SERVICES BV
1.4
Type d'émetteur :
Entreprise non bancaire
1.5
Objet du Programme :
Afin de satisfaire aux besoins généraux de financement de ADECCO INTERNATIONAL FINANCIAL
SERVICES BV, "l’Emetteur", de ses filiales et des sociétés faisant partie du même groupe et
soumises au même contrôle, l’Emetteur procèdera à l’émission périodique de Billets de Trésorerie,
conformément aux articles L.213-1 A à L.213-4-1 du Code Monétaire et Financier et à toutes les
réglementations applicables.
1.6
Plafond du Programme :
L’encours maximal des Billets de Trésorerie émis aux termes du Programme s’élèvera à 400
millions d’Euros ou sa contre-valeur en toute autre devise autorisée à la date d’émission.
1.7
Forme des titres :
Les Billets de Trésorerie sont des titres de créances négociables, émis au porteur et sont inscrits
en compte auprès d’intermédiaires autorisés conformément à la législation et à la réglementation
française en vigueur.
1.8
Rémuneration :
La rémunération des Billets de Trésorerie est libre.
Cependant, si l’Emetteur émet des Billets de Trésorerie dont la rémunération est liée à un indice, ou
une clause d’indexation, l’Emetteur n’émettra que des Billets de Trésorerie dont la rémunération est
liée à un indice usuel de marché monétaire, tel que et restreint à : Euribor, Libor ou EONIA.
L’émetteur ne peut pas émettre de Billets de Trésorerie contenant des paiements de capital qui
peuvent potentiellement être variables.
Dans le cas d’une émission de Billet de Trésorerie comportant une option de remboursement
anticipé, de prorogation ou de rachat, telle que prévue au paragraphe 1.10 ci après, les conditions
de rémunération du Billet de Trésorerie seront fixées à l’occasion de l’émission initiale et ne
pourront pas être modifiées ultérieurement, notamment à l’occasion de l’exercice de l’option de
remboursement anticipé, de prorogation ou de rachat.
1.9
Devises d'émission :
Les Billets de Trésorerie seront émis en Euro ou dans toute autre devise autorisée par la
législation française en vigueur au moment de l’émission.
1.10
Échéance :
7
L’échéance des Billets de Trésorerie sera fixée conformément à la législation et à la réglementation
française, ce qui implique qu’à la date des présentes la durée des émissions de Billets de Trésorerie
ne peut être inférieure à 1 jour ni supérieure à 1 an (365 jours ou 366 jours les années bissextiles).
Les Billets de Trésorerie peuvent être remboursés avant maturité en accord avec les lois et les
réglementations applicables en France. L’option de remboursement anticipé, s’il y a lieu, devra être
spécifiée explicitement dans le formulaire de confirmation de toute émission concernée de Billets de
Trésorerie.
Les Billets de Trésorerie émis dans le cadre du Programme pourront comporter une ou plusieurs
options de prorogation de l’échéance (au gré de l’Emetteur, ou du détenteur, ou en fonction d’un (ou
plusieurs) évènement(s) indépendant(s) de l’Emetteur et ou du détenteur).
Les Billets de Trésorerie émis dans le cadre du Programme pourront aussi comporter une ou
plusieurs options de rachat par l’Emetteur (au gré de l’Emetteur, ou du détenteur, ou en fonction
d’un (ou plusieurs) évènement(s) indépendant(s) de l’Emetteur et / ou du détenteur).
L’option de remboursement anticipé, de prorogation ou de rachat de Billets de Trésorerie, s’il y a
lieu, devra être spécifiée explicitement dans le formulaire de confirmation de toute émission
concernée.
En tout état de cause, la durée de tout Billet de Trésorerie assortie d’une ou de plusieurs de ces
clauses, sera toujours, toutes options de remboursement anticipé, de prorogation ou rachat
comprises, conforme à la réglementation en vigueur au moment de l’émission du dit Billet de
Trésorerie.
1.11
Montant minimal des émissions :
Le montant unitaire, déterminé au moment de chaque émission, sera au moins égal à 200.000
Euros ou son équivalent dans toute autre devise autorisée.
1.12
Dénomination minimale des titres :
En vertu de la réglementation (Article D 213-11 du Code Monétaire et Financier), le dénomination
minimale des Billets de Trésorerie émis dans le cadre du Programme sera 200.000 Euros ou son
équivalent dans toute autre devise choisi au moment de l’émission..
1.13
Rang :
Les Billets de Trésorerie constitueront des obligations directes, non assorties de sûreté et non
subordonnées de l’Emetteur, venant à égalité de rang avec les autres obligations actuelles et
futures, directes, non assorties de sûreté, non garanties et non subordonnées de l’Emetteur, à
l’exception de celles qui peuvent être obligatoirement privilégiées par la loi.
1.14
Droit applicable :
Tout Billet de Trésorerie émis dans le cadre de ce Programme sera régi par le droit français.
Tous les litiges auxquels l’émission des Billets de Trésorerie pourraient donner lieu seront régis
par le droit français et interprétés selon le droit français.
1.15
Listing :
Néant
1.16
Système de règlement livraison d’émission :
Les Billets de Trésorerie seront émis en Euroclear France.
1.17
Notation(s) du Programme :
A-2 Standard & Poor’s. Les notations sont susceptibles d’être revues à tout moment par les agences
de notation. Les investisseurs sont invités à se reporter aux sites internet des agences concernées
afin de consulter la notation en vigueur. Merci de vous référer à l’Appendix III.
1.18
Garantie :
Conformément à la Garantie qui figure en Annexe IV et à ses conditions et limitations, ADECCO S.A.
garantit inconditionnellement et irrévocablement selon l’article D213-5 du Code Monétaire et Financier
le paiement de tous les montants des Billets de Trésorerie émis par ADECCO INTERNATIONAL
FINANCIAL SERVICES BV.
Merci de se référer à la Garantie (Annexe IV).
1.19
Agent Domiciliataire :
8
L’Emetteur a désigné Société Générale en qualité d’ « Agent Domiciliataire » pour le Programme.
L’Emetteur peut décider de remplacer l’Agent Domiciliataire d’origine ou de nommer d’autres
Agents Domiciliataires et, dans cette hypothèse, mettra à jour la Documentation Financière
conformément à la réglementation en vigueur.
1.20
Arrangeur :
Société Générale
1.21
Mode de placement :
Les Billets de Trésorerie seront placés par les Agents Placeurs suivants : BNP Paribas, CIC, Crédit
Agricole Corporate and Investment Bank, ING Bank NV, Société Générale et NATIXIS.
L’Emetteur pourra ultérieurement remplacer un Agent Placeur ou nommer d’autres Agents
Placeurs; une liste à jour desdits Agents Placeurs sera communiquée aux investisseurs sur
demande déposée auprès de l’Emetteur.
1.22
Restrictions à la vente :
Restrictions Générales
Aucune mesure n’a été ou ne sera prise par l'Emetteur, chaque Agent Placeur, chaque souscripteur
initial et chaque détenteur subséquent de Billets de Trésorerie émis dans le cadre du Programme
aux fins de permettre une offre au public des Billets de Trésorerie, ou la détention ou la distribution
de la Documentation Financière ou de tout autre document relatif aux Billets de Trésorerie, dans un
pays ou un territoire où des mesures sont nécessaires à cet effet.
L’Emetteur, chaque Agent Placeur, chaque souscripteur initial de Billets de Trésorerie s’est engagé
à respecter et chaque détenteur subséquent de Billets de Trésorerie sera réputé s’être engagé à
respecter, dans toute la mesure du possible, les lois et règlements en vigueur dans chaque pays ou
territoire où il achète, offre ou vend les Billets de Trésorerie ou dans lequel il détient ou distribue la
Documentation Financière ou tout autre document relatif aux Billets de Trésorerie et à obtenir tout
consentement, accord ou permission nécessaire à l’achat, l’offre ou la vente de Billets de Trésorerie
conformément aux lois et règlements qui lui sont applicables et à ceux du pays ou territoire où il
réalise cet achat, offre ou vente et ni l'Emetteur, ni aucun Agent Placeur, ni aucun souscripteur
initial ou détenteur subséquent de Billets de Trésorerie n’encourent de responsabilité à ce titre.
L’Emetteur, chaque Agent Placeur, chaque souscripteur initial de Billets de Trésorerie a déclaré et
garanti et chaque détenteur subséquent de Billets de Trésorerie sera réputé avoir déclaré et
garanti au jour de la date d’acquisition qu’il n'offrira, ne vendra ni ne remettra, directement ou
indirectement, les Billets de Trésorerie ou distribuera la Documentation Financière ou tout autre
document relatif aux Billets de Trésorerie, dans un pays ou territoire sauf dans des conditions où
toutes les lois et règlements applicables seront respectés et ne mettront aucune obligation à la
charge de l’Emetteur.
France
L’Emetteur, chaque Agent Placeur, chaque souscripteur initial a déclaré et garanti et chaque
détenteur subséquent de Billets de Trésorerie sera réputé avoir déclaré et garanti au jour de la
date d’acquisition des Billets de Trésorerie respecter les lois et règlements en vigueur en France
relatifs à l’offre, au placement, à la distribution et la revente des Billets de Trésorerie ou à la
distribution en France des documents y afférant.
Pour les autres pays, merci de vous référer au § 1.22, English Section (§1.22 de la section en
anglais).
1.23
Taxation :
L’Emetteur ne s’engage pas à indemniser les détenteurs de Billets de Trésorerie en cas de
prélèvement de nature fiscale en France ou à l’étranger, sur toutes sommes versées au titre des
Billets de Trésorerie, à l’exception des droits de timbres ou droit d’enregistrement dus par
l’Emetteur en France.
1.24
Implication d'autorités nationales :
9
Banque de France
1.25
Coordonnées des personnes assurant la mise en œuvre du
Programme :
Des informations sur ADECCO INTERNATIONAL FINANCIAL SERVICES BV peuvent être
obtenues auprès de :
Contact :
e-mail :
Title :
Adresse :
Tel :
Fax:
1.26
Adecco management & consulting S.A.
Carlos Estrada
carlos.estrada@adecco.com
Senior Legal Counsel
Group Legal
Sägereistrasse, CH-8152 – Glattbrugg, Switzerland
+41 44 878 88 84
+41 44 829 88 11
INFORMATION COMPLEMENTAIRE SUR LE PROGRAMME :
MISE A JOUR ET COMMUNICATION DE LA DOCUMENTATION
FINANCIÈRE :
Merci de vous référer au § 1.26, English Section (§ 1.26 de la section en anglais)
1.27
AUDITEURS INDEPENDANTS DE L’EMETTEUR AYANT AUDITE LES
COMPTES DU RAPPORT ANNUEL DE L’EMETTEUR
Merci de vous référer au § 3.4, English Section (§ 3.4 de la section en anglais)
II.
INFORMATION CONCERNANT L’EMETTEUR ET LE GARANT
Article D. 213-9, II, 2° du Code Monétaire et Financier et Art. 2 de l’arrêté du 13 février 1992
modifié.
2a.
INFORMATION CONCERNANT L’EMETTEUR
2a.1
Dénomination sociale :
2a.2
Forme juridique :
ADECCO INTERNATIONAL FINANCIAL SERVICES BV
L’Emetteur est constitué à Utrecht (Pays-Bas) sous la forme d’une société par actions à
responsabilité limitée (“Besloten vennootschap”) au regard du droit néerlandais.
Il est régi par le droit des Pays-Bas et relève de la compétence des tribunaux des Pays-Bas.
2a.3
Date de constitution :
ADECCO INTERNATIONAL FINANCIAL SERVICES BV a été créé par un acte public le 1er mars 2006.
2a.4
Siège social :
Hogeweg 123
5301 LL Zaltbommel
Pays-Bas
Adresse Postale:
PO Box 5
5300 AA Zaltbommel
2a.5
Pays-Bas
Numéro d’immatriculation, et lieu d'enregistrement :
10
L’Emetteur est enregistré à Utrecht sous le numéro 30212925.
2a.6
Objet social résumé :
L’objet social de l’Emetteur est :
a. de contracter des prêts monétaires et / ou d’émettre des obligations et / ou de lever des fonds et
/ ou de conclure des transactions financières, pour assurer la sécurité d'une dette, et de s'engager
en tant que garant de façon solidaire ou individuelle pour garantir l'exécution par une filiale, ou une
entité juridique dans lequel évolue la Société, ou une société ou une entreprise avec laquelle elle
est associée à un groupe ou par toute autre partie;
b. d'intégrer, participer à, coopérer avec, gérer, rendre des services et financer les entreprises et
autres entités juridiques du Groupe Adecco.
c. d'effectuer tout ce qui peut être lié ou peut être propice à ce qui précède, à interpréter au sens le
plus large possible.
2a.7
Description des principales activités de l’Emetteur (3° de l’article 2 de
l’arrêté du 13 février 1992 modifié)
Les principales activités de l’émetteur sont les activités liées au financement des sociétés du Groupe
Adecco, afin d’assurer que les filiales opérationnelles des sociétés Adecco –présentes dans plus de 60
pays- soient proprement dotées et bénéficient
des ressources financières nécessaires pour le
développement du Groupe.
Pour plus de détails se référer au § 2a.7, English Section.
Des renseignements sur l’activité du Groupe Adecco figurent au § 2b.7
2a.8
Capital ou équivalent:
2a.8.1
Montant du capital souscrit et entièrement libéré :
Comme mentionné à la page
13 du Rapport Annuel 2012 de ADECCO
INTERNATIONAL FINANCIAL SERVICES BV (Appendix I), le capital souscrit et
entièrement libéré de ADECCO INTERNATIONAL FINANCIAL SERVICES BV s’élevait
au 31 décembre 2012 à € 2.500.000 et était composé de 2.500 actions de 1.000 €
de nominal chacune.
2a.8.2
Montant du capital souscrit et non entièrement libéré :
Non applicable
2a.9
Répartition du capital :
Comme mentionné page 6 du rapport Annuel de ADECCO INTERNATIONAL FINANCIAL SERVICES BV
( Appendix I), au 31 décembre 2012, l’actionnaire principal suivant a été déclaré à la Société :
Adecco S.A : 100% du capital de Adecco International Financial Services BV.
2a.10
Marchés règlementés où les actions de l’Emetteur sont négociées :
Non applicable
2a.11
Conseil d’Administration :
Ci-après figurent les noms des membres du Conseil d’Administration de ADECCO INTERNATIONAL
FINANCIAL SERVICES BV comme mentionné page 19 du Rapport Annuel 2012 (Appendix I):
Dominik de Daniel
Patrick Bakker
Marcus Cornelis Joannes van Bussel
Mr. Clemens Cornelis van den Broek
Hana Balcarova
2a.12
Directeur
Directeur
Directeur
Directeur
Directeur
Méthodes comptables :
11
Les comptes d’ADECCO INTERNATIONAL FINANCIAL SERVICES BV 2011 ont été établis selon
les normes GAAP applicables aux Pays-Bas conformément à la Partie 9 du Livre 2 du Code Civil
Néerlandais.
2a.13
Exercice comptable :
1er janvier - 31 décembre
2a.14
Exercice social:
Du 1er janvier au 31 décembre de chaque année.
2a.15
Programmes d’émission à l’étranger de titres de même nature :
Non applicable
2a.16
Notation(s) de l’Emetteur :
Merci de vous référer au § 2a.16, English Section (§ 2a.16 de la section en anglais)
2a.17
Information complémentaire sur l’Emetteur :
Merci de vous référer au § 2a.17, English Section (§ 2a.17 de la section en anglais)
2b.
INFORMATION CONCERNANT LE GARANT
2b.1
Dénomination sociale :
2b.2
Forme juridique :
ADECCO SA
Le Garant est constitué en Suisse sous la forme d’une société anonyme
Il est régi par le droit suisse et relève de la compétence des tribunaux suisses
2b.3
Date de constitution :
18 mai 1967
2b.4
Siège social :
Route de Bonmont, 31
CH-1275, Chéserex,
Canton de Vaud,
Suisse
2b.5
Numéro d’immatriculation, et lieu d'enregistrement :
Le Garant est enregistré à Chéserex en Suisse sous le numéro CH-550-1005691-8
2b.6
Objet social résumé :
La société a pour but l’acquisition et la gestion de participations financières, sous quelque forme que ce
soit, dans toutes entreprises de services, commerciales, financières et industrielles, en Suisse et à
l’étranger, notamment dans des entreprises d’intérim, dans des entreprises actives dans le domaine de
la mise à disposition de personnel, dans des entreprises d’’inspection, de surveillance, et de conseil.
2b.7
Description des principales activités du Garant
(3° de l’article 2 de l’arrêté du 13 février 1992 modifié)
Adecco SA est la société holding du Groupe Adecco Group (Adecco). Elle est basée à Zurich, en Suisse.
Adecco est le leader mondial dans la fourniture de solutions dans le domaine des ressources humaines
(RH). Avec 32.000 collaborateurs à temps plein et plus de 5.400 agences, réparties dans 60 pays et
territoires dans le monde, le Groupe Adecco Group offre une variété de services permettant la mise en
relation de 700.000 collègues avec 100.000 clients quotidiennement. La gamme de services proposés
recouvre la large palette de services offerts dans le domaine du travail temporaire, le placement
12
permanent, l’outsourcing, le conseil, et l’outplacement. Le Groupe Adecco Group figure au classement
Fortune Global 500.
Le chiffre d’affaire 2012 de 20.536 millions d’Euros, se répartissait comme suit: 90% en travail
temporaire et 10% en placement permanent, outplacement, conseil et outsourcing.
Pour plus de détails se référer au § 2b.7, English Section.
2b.8
Capital ou équivalent:
2b.8.1
Montant du capital souscrit et entièrement libéré :
Comme mentionné à la page 83 du Rapport Annuel 2012 de ADECCO SA (Appendix
I), le capital souscrit et entièrement libéré de ADECCO SA, se montait au 31
décembre 2012 à CHF 189.263.506 (équivalent a circa EUR 152.221.000 au 21 mai
2013) et était composé de 189.263.506 actions de 1 CHF de nominal.
2b.8.2
Montant du capital souscrit et non entièrement libéré :
Non applicable.
2b.9
Répartition du capital :
Comme mentionné en page 137 du Rapport Annuel du Groupe ADECCO SA (Appendix I), au 31
décembre 2012, les principaux actionnaires suivants ont été déclarés à la Société :
Adecco S.A.
8.02%
Akila Finance SA
5.44%
Harris Associates L.P. 5.10%
Jacobs Group
18.74%
2b.10
Marchés règlementés où les actions du Garant sont négociées :
Comme mentionné en page 135 du 2012 Rapport Annuel du Groupe ADECCO SA (Annexe I),
l’action ADECCO SA est cotée sur la bourse SIX Swiss Exchange à Zurich.
2b.11
Conseil d’Administration :
Ci-après figurent les noms des membres du Conseil d’Administration de ADECCO S.A. à la date de
cette Documentation Financière.
Rolf Dörig
Président
Andreas Jacobs
Vice Président
Thomas O‘Neill
David Prince
Dominique-Jean Chertier
Wanda Rapaczynszki
Alexander Gut
Didier Lamouche
2b.12
Méthodes comptables :
Comme mentionné en page 42 du Rapport Annuel 2012 du Groupe ADECCO SA (Appendix I), les
comptes consolidés 2012 du Groupe ont été établis selon les normes US GAAP.
2b.13
Exercice comptable :
1er janvier - 31 décembre
2b.14
Exercice social:
Du 1er janvier au 31 décembre de chaque année.
2b.15
Programmes d’émission à l’étranger de titres de même nature :
Non applicable
13
2b.16
Notation(s) du Garant :
Merci de vous référer au § 2b.16, English Section (§ 2b.16 de la section en anglais)
2b.17
Information complémentaire sur le Garant :
Merci de vous référer au § 2b.17, English Section (§ 2b.17 de la section en anglais)
14
III.
CERTIFICATION D’INFORMATION
RESPONSABILITE DE LA DOCUMENTATION
CONTRÔLE DES COMPTES
FINANCIÈRE
ET
Article D. 213-9, II, 3° et III du Code Monétaire et Financier et Art. 2, dernier alinéa de l’arrêté du
13 février 1992 modifié.
Merci de vous référer au Chapter III, English section (chapitre III de la section en anglais).
15
IV.
INFORMATION CONCERNANT LA DEMANDE DE LABEL STEP PAR
L'EMETTEUR
Merci de vous référer au Chapter IV, English section (chapitre IV de la section en anglais).
ANNEXES
Merci de vous référer aux Appendices, English section (Annexes de la section en anglais).
16
ENGLISH SECTION
I.
SUMMARY OF THE PROGRAMME
DESCRIPTION OF THE Billets de Trésorerie PROGRAMME
Articles D. 213-9, II, 1° and 213-11 of the Code Monétaire et Financier and Article 1 of
the Amended Order (arrêté) of 13 February 1992 modified and subsequent
amendments.
1.1
Name of the Programme:
1.2
Type of programme:
ADECCO INTERNATIONAL FINANCIAL SERVICES BV,
French Billets de Trésorerie
Programme of Titres de Créances Négociables (Billets de Trésorerie) issued under the French Law,
in accordance with Articles L.213-1 A to L.213-4-1 of the French Monetary and Financial Code and
all applicable regulations.
1.3
Name of the Issuer:
ADECCO INTERNATIONAL FINANCIAL SERVICES BV
1.4
Type of issuer:
non-financial corporation (corporate non-bank)
1.5
Purpose of the Programme:
In order to meet the general funding needs of ADECCO INTERNATIONAL FINANCIAL SERVICES BV
(the Issuer) its subsidiaries and companies belonging to the same group of companies and under
the same controlling interest, the Issuer will issue from time to time Billets de Trésorerie, in
accordance with Articles L.213-1 A to L.213-4-1 of the French Monetary and Financial Code and all
applicable regulations.
1.6
Programme size:
The maximum outstanding amount of Billets de Trésorerie issued under the Programme shall be
Euros 400,000,000 or its equivalent value at the date of issue in any other authorized currencies.
1.7
Characteritics and forms of the Notes:
The Billets de Trésorerie are Negotiable Debt Securities (TCNs or Titres de Créances Négociables),
issued in bearer form and recorded in the books of authorised intermediaries (book entry system)
in accordance with French laws and regulations.
1.8
Yield basis:
The remuneration of the Billets de Trésorerie is unrestricted.
However, if the Issuer issues Billets de Trésorerie with remuneration linked to an index, or an index
clause, the Issuer shall only issue Billets de Trésorerie with remuneration linked to usual money
market indexes, such as and restricted to: Euribor, Libor or EONIA.
The Issuer may not issue Billets de Trésorerie with potentially variable principal payments.
In the case of an issue of Billet de Trésorerie embedding an option of early redemption, extension
or repurchase, as mentionned in paragraph 1.10 below, the conditions of remuneration of such
Billet de Trésorerie will be set up when the said Billet de Trésorerie will be initially issued and shall
not be further modified, including when such an embedded option of early redemption, extension
or repurchase will be exercised.
17
1.9
Currencies of issues of the Notes:
The Billets de Trésorerie shall be issued in Euro or in any other currency authorized by laws and
regulations in force in France at the time of the issue.
1.10
Maturity of the Notes:
The term (maturity date) of the Billets de Trésorerie shall be determined in accordance with laws
and regulations applicable in France, which imply that, at the date hereof, the term of the Billets
de Trésorerie shall not be less than 1 day or more than 1 year (365 days or 366 days in a leap
year), from the issue date.
The Billets de Trésorerie may be redeemed before maturity in accordance with the laws and
regulations applicable in France. The early redemption option, if any, shall be explicitly specified in
the confirmation form of any relevant issuance of Billets de Trésorerie.
The Billets de Trésorerie issued under the Programme may carry one or more embedded option(s)
of extension of the term (hold by either the Issuer or the holder, or linked to one or several
events not related to either the Issuer or the holder).
The Billets de Trésorerie issued under the Programme may also carry one or more embedded
option(s) of repurchase before the term (hold by either the Issuer or the holder, or linked to one
or several events not related to either the Issuer or the holder).
An option of early redemption, extension or repurchase of Billets de Trésorerie, if any, shall be
explicitly specified in the confirmation form of any related issuance of Billet de Trésorerie.
In any case, the overall maturity of any Billet de Trésorerie embedded with one or several of such
clauses, shall always - all options of early redemption, extension or repurchase included –
conform to laws and regulations in force in France at the time of the issue.
1.11
Minimum Issuance Amount:
The Billets de Trésorerie shall be issued for a nominal amount at least equal to Euro 200,000 or
its equivalent in any other authorized currency.
1.12
Minimum denomination of the Notes:
By virtue of regulation (Article D 213-11 of the French monetary and financial Code), the legal
minimum face value of the Billets de Trésorerie issued within the framework of this Programme is
Euro 200,000 or the equivalent in the currencies selected at the time of issuance.
1.13
Status of the Notes:
The Billets de Trésorerie shall constitute direct, unsecured and unsubordinated obligations of the
Issuer, ranking pari passu with all other current and future direct, unsecured, unguaranteed and
unsubordinated indebtedness issued by the Issuer, save for such obligations that may be
mandatorily preferred by law.
1.14
Governing law that applies to the Notes:
Any Billet de Trésorerie under the Programme will be governed by French law.
All potential disputes related to the issuance of the Billets de Trésorerie shall be governed and
construed according to French Law.
1.15
Listing:
None
1.16
Settlement system of issuance:
The Billets de Trésorerie will be issued in Euroclear France.
1.17
Rating(s) of the Programme:
A-2 by Standard & Poor’s. Ratings can come under review at any time by Rating Agencies. Investors
are invited to refer to the websites of the relevant Rating Agencies in order to have access to the
latest rating. Please refer to Appendix III.
1.18
Guarantee:
Under the Guarantee attached hereto as Schedule IV, in accordance with the terms and subject to the
limitations thereof, ADECCO S.A. unconditionally and irrevocably guarantees according to the article
D213-5 of the Code Monétaire et Financier payment of all amounts due in respect of the Billets de
Trésorerie issued by ADECCO INTERNATIONAL FINANCIAL SERVICES BV.
18
Please refer to the Guarantee (Appendix IV).
1.19
Issuing and Paying Agent (Agent Domiciliataire):
The Issuer has appointed Société Générale as its Agent Domiciliataire in relation to the
Programme. The Issuer may decide to replace the initial Agent Domiciliataire or appoint another
Agent Domiciliataire and will, following such appointment update the Documentation Financière in
accordance with French laws and regulations.
1.20
Arranger:
Société Générale
1.21
Dealers:
The Billets de Trésorerie will be placed by the following Dealers (Agent Placeurs or): BNP Paribas,
CIC, Crédit Agricole Corporate and Investment Bank, ING Bank NV, Société Générale et NATIXIS.
The Issuer may subsequently elect to replace any of the Dealers or appoint other Dealers; an
updated list of such placement agents shall be disclosed to investors upon request to the Issuer.
1.22
Selling Restrictions:
General selling restrictions
No action has been taken or will be taken by the Issuer, each Dealer, any initial subscriber and any
further holder of the Billets de Trésorerie issued under the Programme that would or is intended to
permit a public offering of the Billets de Trésorerie or the possession or distribution of the
Documentation Financière or any other document relating to the Billets de Trésorerie in any
country or jurisdiction where action for that purpose is required.
The Issuer, each Dealer, any initial subscriber and any further holder of the Billets de Trésorerie
has undertaken, to the extent possible, to the best of its knowledge, to comply with all applicable
laws and regulations in force in any country or jurisdiction in which it purchases, offers or sells the
Billets de Trésorerie or possesses or distributes the Documentation Financière or any other
document relating to the Billets de Trésorerie and to obtain any consent, approval or permission
required by it for the purchase, offer or sale of Billets de Trésorerie under the laws and regulations
in force in any jurisdiction to which it is subject or in which it will make such purchases offers or
sales and neither the Issuer, nor any Dealer nor any initial subscriber nor any further holder shall
have responsibility therefore.
None of the Issuer, any Dealer, any initial subscriber or any further holder of the Billets de
Trésorerie will either offer, sell or deliver, directly or indirectly, any Billets de Trésorerie or
distribute the Documentation Financière or any other document relating to the Billets de Trésorerie
in or from any country or jurisdiction except under circumstances that will result in the compliance
with any applicable laws and regulations and which will not impose any obligations on the Issuer.
Belgium
With regard to Billets de Trésorerie having a maturity of less than 12 months (and which therefore
fall outside the scope of the Prospectus Directive), this Documentation Financière has not been,
and it is not expected that it will be, submitted for approval to the Belgian Banking, Finance and
Insurance Commission. Accordingly, each Dealer has represented and agreed, and each further
Dealer appointed under the Programme will be required to represent and agree, that it shall refrain
from taking any action that would be characterised as or result in a public offering of these Billets
de Trésorerie in Belgium in accordance with the Prospectus Law on public offerings of investment
instruments and the admission of investment instruments to trading on regulated markets, as
amended or replaced from time to time.
France
19
The Issuer, each Dealer, any initial subscriber or any further holder, of the Billets de Trésorerie will
be deemed to have represented and agreed on the date on which he purchases the Billets de
Trésorerie, to comply with applicable laws and regulations in force regarding the offer, the
placement or the re-sale of the Billets de Trésorerie or the distribution of documents with respect
thereto, in France.
Germany
No selling restriction for maturity of less than 12 months
Ireland
The Issuer, each Dealer, initial subscriber, or further holder of the Billets de Trésorerie represents
and agrees that:
it has complied and will comply with all applicable provisions of the European Communities
(Markets in Financial Instruments) Regulations 2008 of Ireland, as amended, with respect to
anything done by it in relation to the Billets de Trésorerie or operating in, or otherwise involving,
Ireland and is acting under and within the terms of an authorisation to do so for the purposes of
Directive 2004/39/EC of the European Parliament and of the Council of 21 May, 2004 and it has
complied with any applicable codes of conduct or practice made pursuant to implementing
measures in respect of the foregoing Directive in any relevant jurisdiction;
it will not underwrite the issue of, or place, the Billets de Trésorerie, otherwise than in conformity
with the provisions of the Irish Central Bank Acts, 1942 - 2004 (as amended); and
it has only issued or passed on, and will only issue or pass on, in Ireland, any document received
by it in connection with the issue of Billets de Trésorerie to persons who are persons to whom the
document may otherwise be lawfully be issued or passed on;
Italy
The offering of the Billets de Trésorerie has not been registered pursuant to Italian securities
legislation and, accordingly, no Billets de Trésorerie may be offered, sold or delivered, nor may
copies of the Documentation Financière or of any other document relating to the Billets de
Trésorerie be distributed in the Republic of Italy, except:
(a)
to qualified investors (investitori qualificati), as defined pursuant to Article 100 of
Legislative Decree No.58 of 24 February 1998, as amended (the Financial Services Act) and
Article 34-ter, first paragraph, letter (b) of CONSOB Regulation No. 11971 of 14 May 1999, as
amended from time to time (Regulation No. 11971); or
(b)
in other circumstances which are exempted from the rules on public offerings pursuant to
Article 100 of the Financial Services Act and Article 34-ter of Regulation No. 11971.
Any offer, sale or delivery of the Billets de Trésorerie or distribution of copies of the Documentation
Financière or any other document relating to the Billets de Trésorerie in the Republic of Italy under
(a) or (b) above must be:
(i)
made by an investment firm, bank or financial intermediary permitted to conduct such
activities in the Republic of Italy in accordance with the Financial Services Act, CONSOB Regulation
No. 16190 of 29 October 2008 ( as amended from time to time) and Legislative Decree No. 385 of
1 September 1993, as amended (the Banking Act); and
(ii)
in compliance with Article 129 of the Banking Act, as amended, and the implementing
guidelines of the Bank of Italy, as amended from time to time, pursuant to which the Bank of Italy
may request information on the issue or the offer of securities in the Republic of Italy; and
(iii)
in compliance with any other applicable laws and regulations or requirements imposed by
CONSOB or other Italian authority.
Japan
The Billets de Trésorerie have not been and will not be registered under the Financial Instruments
20
and Exchange Act of Japan (Law No. 25 of 1948, as amended; the “FIEA”). The Issuer, each
Dealer, any initial subscriber or any further holder, of the Billets de Trésorerie has represented
and agreed that it has not offered or sold and will not offer or sell any Billets de Trésorerie, directly
or indirectly, in Japan or to, or for the benefit of, any resident of Japan (as defined under Item 5,
Paragraph 1, Article 6 of the Foreign Exchange and Foreign Trade Control Act (Law N°. 228 of
1949, as amended)), or to others for re-offering or resale, directly or indirectly, in Japan or to, or
for the benefit of, a resident of Japan, except pursuant to an exemption from the registration
requirements of, and otherwise in compliance with, the FIEA and any other applicable laws,
regulations and ministerial guidelines of Japan.
The Netherlands
Each Dealer under the Programme represents and agrees and each further Dealer appointed under
the Programme will be required to represent and agree that as follows:
(a)
that Billets de Trésorerie offered, as part of their initial distribution or by way of re-offering,
in The Netherlands shall have a denomination of at least Euro 50,000 (or the equivalent in
another currency); or
(b)
that, regardless of their denomination, the Billets de Trésorerie can only be acquired by
investors as part of their initial distribution or by way of re-offering in the Netherlands, in
units comprising several Billets de Trésorerie (each a Unit) against a purchase price of at
least Euro 50,000 (or the equivalent in other currency) per unit; or
(c)
that any Billets de Trésorerie that do not fall under category (a) or (b) above, may not be
offered, sold, transferred or delivered, directly or indirectly, as part of their initial
distribution or at any time thereafter to individuals or legal entities in The Netherlands other
than to qualified investors (gekwalificeerde beleggers) within the meaning of The
Netherlands Financial Markets Supervision Act (Wet op het financieel toezicht, the "FMSA")
provided they acquire the Billets de Trésorerie for their own account and provided that all
such Billets de Trésorerie bear a legend to the following effect:
"THIS BILLET DE TRÉSORERIE (OR ANY INTEREST THEREIN) MAY NOT BE SOLD, TRANSFERRED
OR DELIVERED TO INDIVIDUALS OR LEGAL ENTITIES IN THE NETHERLANDS OTHER THAN
QUALIFIED INVESTORS WITHIN THE MEANING OF THE NETHERLANDS FINANCIAL MARKETS
SUPERVISION ACT (WET OP HET FINANCIEEL TOEZICHT, THE "FMSA") (AS AMENDED).
EACH HOLDER OF THIS BILLET DE TRÉSORERIE (OR ANY INTEREST THEREIN), BY PURCHASING
THIS BILLET DE TRÉSORERIE
(OR ANY INTEREST THEREIN), WILL BE DEEMED TO HAVE
REPRESENTED AND AGREED FOR THE BENEFIT OF THE ISSUER THAT (1) IT IS A QUALIFIED
INVESTOR AND IS ACQUIRING THIS BILLET DE TRÉSORERIE (OR ANY INTEREST THEREIN) FOR
ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INVESTOR, THAT (2) THIS BILLET DE
TRÉSORERIE
(OR ANY INTEREST THEREIN) MAY NOT BE OFFERED, SOLD, PLEDGED OR
OTHERWISE TRANSFERRED TO ANYONE ANYWHERE IN THE WORLD OTHER THAN A QUALIFIED
INVESTOR ACQUIRING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INVESTOR AND THAT (3) IT WILL PROVIDE NOTICE OF THE TRANSFER RESTRICTIONS DESCRIBED
HEREIN TO ANY SUBSEQUENT TRANSFEREE".
United Kingdom
The Issuer, each Dealer, any initial subscriber has represented and agreed and any further holder
of the Billets de Trésorerie will be required to represent and agree, that:
(a)
(i) it is a person whose ordinary activities involve it in acquiring, holding, managing
or disposing of investments (as principal or agent) for the purposes of its business,
and
(ii)
it has not offered or sold and will not offer or sell any Billets de Trésorerie
other than to persons whose ordinary activities involve them in acquiring, holding,
21
managing or disposing of investments (as principal or agent) for the purposes of
their businesses or who it is reasonable to expect will acquire, hold, manage or
dispose of investments (as principal or agent) for the purposes of their businesses
where the issue of Billets de Trésorerie would otherwise constitute a contravention
of section 19 of the FSMA by the Issuer;
(b)
it has only communicated or caused to be communicated and will only communicate
or cause to be communicated an invitation or inducement to engage in investment
activity (within the meaning of section 21 of the FSMA) received by it in connection
with the issue or sale of any Billets de Trésorerie in circumstances in which section
21(1) of the FSMA does not apply to the Issuer; and
(c)
it has complied and will comply with all applicable provisions of the FSMA with
respect to anything done by it in relation to such Billets de Trésorerie in, from or
otherwise involving the United Kingdom.
United States
The Billets de Trésorerie have not been and will not be registered under the Securities Act of 1933,
as amended (the "Securities Act"), or any other laws or regulations of any state of the United
States of America, and may not be offered or sold within the United States of America, or to, or for
the account or benefit of, U.S. persons (as defined in accordance with Regulation S under the
Securities Act) except in certain transactions exempt from the registration requirements of the
Securities Act.
The Issuer, each Dealer and any initial subscriber have represented and agreed, and any further
holder of the Billets de Trésorerie will be required to represent and agree, that they have not
offered, sold or delivered, and will not offer, sell or deliver, whether directly or indirectly, any
Billets de Trésorerie within the United States of America or to, or for the account or benefit of, any
U.S. person
(a)
as part of their distribution at any time, and
(b)
otherwise until the day immediately following 40 days after the later of (y) the day
on which such Billets de Trésorerie are first offered and (z) the issue date of such Billets de
Trésorerie (the "Distribution Compliance Period"). In addition, until the conclusion of the
Distribution Compliance Period, an offer or sale of Billets de Trésorerie within the United States by
the Issuer, any Dealer, any initial subscriber or any further holder of the Billets de Trésorerie,
whether or not participating in the offering, may violate the registration requirements of the
Securities Act.
The Issuer, each Dealer and any initial subscriber have also agreed, and any further holder of the
Billets de Trésorerie will be required to agree, that they will send to each distributor, initial
subscriber or person to which they sell the Billets de Trésorerie during the Distribution Compliance
Period a notice setting out the selling and offering restrictions of the Billets de Trésorerie in the
United States of America or to, or for the account or benefit of U.S. persons.
The Billets de Trésorerie will be offered and sold only outside the United States to persons other
than U.S. persons (as defined in accordance with Regulation S under the Securities Act).
1.23
Taxation:
The Issuer is not bound to indemnify any holder of the Billets de Trésorerie in case of taxes which
are payable under French law or any other foreign law in respect of the principal of, or the
interest on, the Billets de Trésorerie, except for any stamp or registration taxes payable by the
Issuer under French law.
1.24
Involvement of national authorities:
Banque de France
1.25
Contact details-Programme Implementation Contact Persons:
22
Information about the Issuer can be obtained from:
Contact :
e-mail :
Titre :
Adresse :
Tel :
Fax:
1.26
Adecco management & consulting S.A.
Carlos Estrada
carlos.estrada@adecco.com
Senior Legal Counsel, Group Legal
Sägereistrasse, CH-8152 – Glattbrugg, Switzerland
+41 44 878 88 04
+41 44 829 88 11
Additional information on the Programme
Updates and communication of the Documentation Financière:
1.26.1
Updates
The Issuer shall update in due time the Documentation Financière in accordance
with the legal laws and regulations applicable for rated programmes of French
Titres de Créances Négociables.
Annual update
The Issuer shall update each year its Documentation Financière within 45 days
following the shareholders’ annual general meeting, or the equivalent body, voting
on the accounts for the last financial year.
Permanent update
The Issuer shall immediately update its Documentation Financière following any
change to the Billets de Trésorerie under this Programme relating to:
• the maximum amount of its outstanding Billets de Trésorerie issues;
• its rating;
• the Agent Domiciliataire;
• any new circumstance which may have a significant effect on the Billets de
Trésorerie or on the outcome of the issue programme.
1.26.2
Communication
The Issuer shall, in accordance with applicable laws and regulations, immediately
and free of charge, provide its Documentation Financière, and its updates to the
entities involved in the implementation of its Programme such as:
• Agent Domiciliataire
• Intermediaries for the purchase and sale of the Billets de Trésorerie and any
person who requests them.
The Issuer shall communicate immediately each update to the Banque de France.
1.27
Independent auditors of the Issuer, who have audited the
accounts of the Issuer’s annual report:
Please refer to § 3.4, English Section
23
II.
INFORMATION CONCERNING THE ISSUER AND THE GUARANTOR
Article D. 213-9, II, 2° of the Code Monétaire et Financier and Article 2 of the Amended
Order (arrêté) of 13 February 1992.
2a.
INFORMATION CONCERNING THE ISSUER
2a.1
2a.2
ADECCO INTERNATIONAL FINANCIAL SERVICES BV
Legal name:
Legal form/status:
The Issuer is established in Utrecht as a private limited liability company (“Besloten
vennootschap”) according to Dutch law.
It is incorporated under Dutch law and is subject to the jurisdictions of the courts of The
Netherlands.
2a.3
Date of incorporation/establishment:
ADECCO INTERNATIONAL FINANCIAL SERVICES BV has been created by public deed on March 1,
2006.
2a.4
Registered office:
Hogeweg 123
5301 LL Zaltbommel
The Netherlands
Postal Address:
PO Box 5
5300 AA Zaltbommel
The Netherlands
2a.5
Registration number, place of registration:
The Issuer is registered in Utrecht with Registration Number 30212925
2a.6
Issuer’s mission - Company’s purpose:
The company purpose of ADECCO INTERNATIONAL FINANCIAL SERVICES BV is:
a. to take out monetary loans and/or issue bonds and/or otherwise raise moneys and/or
otherwise enter into financial transactions, to provide security for a debt and to commit itself as
guarantor or joint and several debtor for or to guarantee performance by a subsidiary, a legal
entity in which the Company participates, a company or an enterprise with which it is associated
in a group or by any other party;
b. to incorporate, participate in, co-operate with, conduct the management of, render services to
and finance other enterprises and legal entities of the Adecco Group
c. to perform anything that may be connected with or may be conducive to the foregoing, to be
interpreted in the widest sense.
2a.7
Brief description of current activities:(3° of Article 2 of the Amended Order
(arrêté) of 13 February 1992)
The issuer’s main activities are related to the funding of the companies of the Group Adecco, in
order to ensure that Adecco’s operative subsidiaries-present in more than 60 countries- are
properly gifted and benefit of necessary financial resources for the Group’s development.
For activity of AECCCO Group, please see § 2b.7
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2a.8
Capital or equivalent:
2a.8.1
2a.8.2
Amount of capital subscribed and fully paid:
As mentioned on page 13 of the 2012 ADECCO INTERNATIONAL FINANCIAL
SERVICES BV Annual Report (Appendix I), as of December 31st 2012, ADECCO
INTERNATIONAL FINANCIAL SERVICES BV had a registered and fully paid stock
capital of Euro 2,500,000 composed of 2,500 ordinary shares of 1,000 Euro of par
value each.
Fraction of issued capital not fully paid-up
Not applicable.
2a.9
List of main shareholders:
As mentioned on page 6 of the 2012 ADECCO INTERNATIONAL FINANCIAL SERVICES BV
(Appendix I), as of 31st December 2012, the main following shareholder had been declared to
the Issuer:
Adecco S.A.: 100 % of the shares of the Issuer.
2a.10
Listing of shares of the Issuer:
Not applicable
2a.11
Composition of governing bodies:
List of the members of the Board of Directors, or the Supervisory
Board and of the Directory:
Hereinafter are listed the names of the Members of the Board of ADECCO INTERNATIONAL
FINANCIAL SERVICES BV as mentioned page 19 of the 2012 Annual Report (Appendix I):
Dominik de Daniel
Patrick Bakker
Marcus Cornelis Joannes van Bussel
Clemens Cornelis van den Broek
Hana Balcarova
2a.12
Director
Director
Director
Director
Director
Accounting methods:
ADECCO INTERNATIONAL FINANCIAL SERVICES BV prepared its financial statements for the year
ending December 31, 2012 in accordance with GAAP standard applicable in the Netherlands, Part
9 of Book 2 of the Dutch Civil Code.
2a.13
Accounting year:
1st January to 31st December.
2a.14
Fiscal year:
The fiscal year starts on 1st January and ends on 31st December.
2a.15
Other short term paper programmes of the Issuer:
None
2a.16
Rating(s) of the Issuer:
None.
2a.17
Additional information on the Issuer : none.
2b.
INFORMATION CONCERNING THE GUARANTOR
2b.1
Legal name:
ADECCO SA
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2b.2
Legal form/status:
The Guarantor is established in Switzerland as a stock corporation.
It is incorporated under Suisse law and is subject to the jurisdictions of the courts of Switzerland.
2b.3
Date of incorporation/establishment:
18 May 1967
2b.4
Registered office:
Route de Bonmont, 31
CH-1275, Chéserex
Canton of Vaud,
Switzerland
2b.5
Registration number, place of registration:
The Guarantor is registered in Chéserex - Switzerland with Registration Number CH-5501005691-8
2b.6
Guarantor’s mission - Company’s purpose:
Adecco SA has as a purpose the acquisition and holding of securities and stocks, under whatsoever
form legally valid, in any and all service provider companies, trading companies, financial and
industrial companies , both in Switzerland and in foreign countries and, particularly, in temporary
staffing companies, HR services provider companies, inspection and control and consulting services
companies.
2b.7
Brief description of current activities:
(3° of Article 2 of the Amended Order (arrêté) of 13 February 1992)
Adecco SA is the holding company of the Adecco Group (Adecco). Based in Zurich, Switzerland,
Adecco is the world’s leading provider of HR solutions. With over 32,000 FTE employees and more
than 5,400 offices, in over 60 countries and territories around the world, Adecco Group offers a
wide variety of services, connecting more than 700,000 colleagues with over 100,000 clients
every day. The services offered fall into the broad categories of temporary staffing, permanent
placement, outsourcing, consulting and outplacement. The Adecco Group is a Fortune Global 500
company.
Revenues for 2012 were EUR 20,536 million, which 90% attributed to temporary staffing and
10% corresponding to permanent placement, outplacement, outsourcing and consulting services.
Detailed information about the Guarantor's business activity can be found on pages 12 to 15 of
the 2012 Annual Report of ADECCO SA (Appendix I).
2b.8
Capital or equivalent:
2b.8.1
Amount of capital subscribed and fully paid:
As mentioned on page 83 of the 2012 ADECCO SA Annual Report (Appendix I), as
of December 31, 2012, ADECCO SA had a subscribed and fully paid stock capital
of CHF 189,263,506 (equivalent to circa EUR EUR 152,221,000 as of May 21,
2013) composed of 189,263,506 ordinary shares of 1 CHF of par value each.
2b.8.2
2b.9
Fraction of issued capital not fully paid-up
Not applicable.
List of main shareholders:
26
As mentioned on page 137 of the 2012 ADECCO SA Annual Report (Appendix I) as of December
31, 2012, the main following shareholders had been declared to the Guarantor:
Adecco S.A.
8.02%
Akila Finance SA
5.44%
Harris Associates L.P
5,10%
Jacobs Group
18.74%
2b.10
Listing of shares of the Guarantor:
As mentioned on page 135 of the 2012 Annual Report of ADECCO SA (Appendix I), the shares of
ADECCO SA are listed on SIX Swiss Exchange in Zurich.
2b.11
Composition of governing bodies
List of the members of the Board of Directors, or the Supervisory
Board and of the Directory:
Hereinafter are listed the names of the Members of the Board of ADECCO SA as of the Date of this
“Documentation Financière”
Rolf Dörig
Andreas Jacobs
Thomas O’Neill
David Prince
Dominique-Jean Chertier
Wanda Rapaczynszki
Alexander Gut
Didier Lamouche
2b.12
Chairman
Vice-Chairman
Accounting methods:
As mentioned on page 42 of the 2012 Annual Report of ADECCO SA (Appendix I), ADECCO SA
prepared its consolidated financial statements for the year ending December 31, 2012 in
accordance with US GAAP standards.
2b.13
Accounting year:
1st January to 31st December.
2b.14
Fiscal year:
The fiscal year starts on 1st January and ends on 31st December.
2b.15
Other short term paper programmes of the Guarantor:
None
2b.16
Rating(s) of the Guarantor:
The ratings BBB / A-2 and Baa3 / - have been assigned to the Guarantor by Standard & Poor’s
and Moody’s Investors Service Ltd respectively. Ratings can come under review at any time by
Rating Agencies. Investors are invited to refer to the websites of the relevant Rating Agencies in
order to have access to the latest rating (see Appendix III).
2b.17
Additional information on the Guarantor: none.
27
STEP LABEL
4.1
An application for a STEP label for this Programme will be made
to the STEP Secretariat in relation to the Billets de Trésorerie
eligible under the STEP Market Convention.
Information as to whether the STEP label has been granted for this Programme in relation to such
Billets de Trésorerie may be made available on the STEP market website (initially
www.stepmarket.org). This website is not sponsored by the Issuer and the Issuer is not
responsible for its content or availability.
Unless otherwise specified in this Information Memorandum, the expressions “STEP”, “STEP
Market Convention”, “STEP label”, “STEP Secretariat”, and “STEP market website” shall have the
meaning assigned to them in the Market Convention on Short-Term European Paper dated 25
October 2010 and adopted by the ACI – The Financial markets Association and the European
Banking Federation (as amended from time to time).
APPENDICES
I
Issuer Annual reports and financial accounts
Issuer Annual report 2012
Issuer Annual report 2011
Guarantor Annual reports and financial accounts
Guarantor Annual report 2012
Guarantor Annual report 2011
II
Reports of independent auditors
III
Ratings of the Programme of the Issuer and of the Guarantor, additional
information
IV
Copy of the Guarantee
30
Appendix I
Issuer Annual reports and financial accounts
ADECCO INTERNATIONAL FINANCIAL SERVICES BV 2012 Annual Report
ADECCO INTERNATIONAL FINANCIAL SERVICES BV 2011 Annual Report
Guarantor Annual reports and financial accounts
ADECCO SA 2012 Annual Report: http://ar.adecco.com /
ADECCO SA 2011 : http://ar.adecco.com/?id=ar2011
Also available on www.adecco.com
31
Appendix II
2011 and 2012 reports of independent auditors of ADECCO INTERNATIONAL
FINANCIAL SERVICES BV
32
Appendix III
Rating(s) of the Guarantor additional information
Up to date information about the ratings granted by rating agencies to the Guarantor can be
found on their web site at the following internet address(es):
Standard &Poor’s
http://www.standardandpoors.com/home/en/us/
Standard & Poor’s identifier for the Guarantor: Adecco S.A.
Moody’s Investors Services
http://v3.moodys.com/Pages/default.aspx
Moody’s Investors Services identifier for the Guarantor: Adecco S.A.600051090
Rating Agencies Letters of the Programme
Standard & Poor’s rating letter
See attachment
33
La présente traduction est établie à la demande de la Banque de France pour la constitution de la
Documentation Financière d’un programme d’émission de Billets de Trésorerie par Adecco
International Financial Services B.V. En cas de contestation, seule la version anglaise de la
garantie de ADECCO SA fait foi.
GARANTIE
(Garantie inconditionnelle, irrévocable et à première demande de
ADECCO SA )
ADECCO INTERNATIONAL FINANCIAL SERVICES B.V., une société néerlandaise par actions à
responsabilité limitée (“Besloten vennootschap), immatriculée le 1 er Mars 2006 sous le numéro
30212925 et inscrite à Utrecht, Pays-Bas, dont le siège social est situé Hogeweg 123, 5301 LL
Zaltbommel, Pays-Bas, et au capital émis de € 2 500 000 (l’"Emetteur")
L’Emetteur émet des Billets de Trésorerie (les “TCNs”) au titre d’un programme de Billets de
Trésorerie nommé « ADECCO INTERNATIONAL FINANCIAL SERVICES B.V., Billets de
Trésorerie », (le “Programme”) d’un montant maximum de Euro 400 000 000 tel que décrit dans la
documentation financière (financial documentation) relative au Programme en date du30 août2010,
telle que subséquemment modifiée ou mise à jour.
ADECCO S.A, une société anonyme suisse (la « Société Anonyme »), immatriculée le 18 mai 1867
sous le numéro d’enregistrement CH-550-1005691-8, dont le siège social est situé à Route de
Bonmont 31, Chéserex, CH-1275, en Suisse (le "Garant"), en accord avec les termes de cette
garantie (la Garantie), garantit inconditionnellement, irrévocablement et à première demande tout
paiement des montants dus au titre de tout TCN émis ou à émettre conformément aux termes du
Programme par l’Emetteur.
L’intention et l’objet de cette Garantie sont d’assurer aux porteurs des TCNs en toutes
circonstances, factuelles ou légales, et sans tenir compte des motifs ou considérations pour
lesquelles l’Emetteur pourrait faillir à effectuer un payement, qu’il recevra les montants payables au
titre des TCNs dès lors que ces TCNs seront dus et payables (les “Dates de Remboursement”), sur
réception d’une demande dûment signée par le(s) porteur(s) de TCNs faisant état qu’un montant
équivalent au montant réclamé au titre de cette garantie est resté impayé par l’Emetteur. En
conséquence, le Garant s’engage à effectuer à première demande et sans limitation tous les
paiements nécessaires si l’Emetteur pour quelque raison que ce soit faillit à effectuer un paiement à
une Date de Remboursement.
Les obligations émanant de cette Garantie ne seront affectées en aucune manière par un
changement de structure légale de l’Emetteur ou par un changement de ses actionnaires.
Les droits et obligations émanant de cette Garantie sont exclusivement régis par les lois de la
Suisse. Tout litige entre les parties relatif à l’interprétation ou à l’exécution de la présente Garantie
sera porté exclusivement devant les tribunaux de Zurich.
Fait à Glattbrugg, le 21 mai 2013
36