Adidas AG (ADSGR)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	COND	PRCD	ADSGR	Adidas AG	€1,000		2	EMEA	Nov 14, 2022

Tranche #1Adidas AG

currency

EUR

size (m)

500.000

maturity

Nov 21, 2025

type

Fixed

tenor

3.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

s&p

A+

fitch

size description

re-open/tap

ipt

MS+45 a

ipt-pxd

guidance

MS+20-25

spread

coupon

3.00%

spread set

price

99.90100

yield

3.035%

book size (m)

1,100

peak book (m)

x-covered

2.2

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

1,100

peak book (m)

x-covered

2.2

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2Adidas AG

currency

EUR

size (m)

500.000

maturity

Nov 21, 2029

type

Fixed

tenor

7.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

s&p

A+

fitch

size description

re-open/tap

ipt

MS+80 a

ipt-pxd

guidance

MS+50-55

spread

coupon

3.125%

spread set

price

99.27200

yield

3.243%

book size (m)

2,350

peak book (m)

x-covered

4.7

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

2,350

peak book (m)

x-covered

4.7

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

3 yr: Book size: 1100; Registration: Reg S Only; Comments: EUR500m 3yr WNG snr unsec RegS. A2/A+. BNPP/Citi/DB(B&D)/DZ. IPTs 3yr MS+45 area. Guidance MS+20/+25. Launch MS+20. Final books 1.1bn+ (peak 1.3bn+). OBL 0 10/25 #182 (DE0001141828) +99.7bp (@94.32) / HR 105%. Tax Call: Yes. Par Call: 1m. Cleanup Call: 80%. MWC: B+15bp. CoC: Yes. LEI: 549300JSX0Z4CW0V5023; 7 yr: Book size: 2350; Registration: Reg S Only; Comments: EUR500m 7yr WNG snr unsec RegS. A2/A+. BNPP/Citi/DB(B&D)/DZ. IPTs 7yr MS+80 area. Guidance MS+50/+55. Launch MS+45. Final books 2.35bn+, (peak 2.6bn+). DBR 0 08/15/29 +118.8bp (@87.18) / HR 107%. Tax Call: Yes. Par Call: 3m. Cleanup Call: 80%. MWC: B+20bp. CoC: Yes. LEI: 549300JSX0Z4CW0V5023;

Use of Proceeds

Refinancing and for general corporate purposes

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Adidas AG (ADSGR)

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