#Textiles & Apparel / Garment

2020-09-03

adidas successfully places two bonds in an amount of € 1 billion

adidas successfully placed two bonds in an amount of € 1 billion in total. The 4-year bond of € 500 million matures in September 2024 and has a coupon of 0.00%, while the 15-year bond of € 500 million matures in September 2035 and has a coupon of 0.625%. The bonds will be listed on the Luxemburg Stock Exchange and have denominations of € 100,000 each. The final offering was more than seven times oversubscribed.

“Today’s successful placement marks adidas’ first transaction as an investment-grade-rated issuer and demonstrates that the company’s strong credit profile is recognized by rating agencies and debt investors alike,” said adidas CFO Harm Ohlmeyer. “This is an important step toward further optimizing the company’s capital structure as well as financing costs as we keep navigating toward long-term success.”

On August 6, 2020, adidas received strong first-time investment-grade ratings by both S&P and Moody’s. While Standard & Poor’s rated adidas ‘A+’, Moody’s granted the company an ‘A2’ rating. The outlook for both ratings is ‘stable’. These investment-grade ratings reflect adidas’ global scale and reach within an attractive industry that is supported by several structural growth drivers, including increasing health awareness, higher sports participation and an accelerating athleisure trend. The company’s strong credit metrics, robust liquidity profile and conservative financial policies are recognized by both agencies. The ratings make adidas one of the highest-rated companies both in Germany and in the global sporting goods industry.

Proceeds from the offering will be used for general corporate purposes including, but not limited to, the repayment of existing debt and pre-funding of future debt maturities. In this context, the € 3.0 billion syndicated revolving loan facility under participation of KfW, Germany’s state-owned development bank, which the company had secured earlier this year to bridge the unprecedented situation caused by the global coronavirus pandemic, will partly be reduced.

HSBC acted as Sole Global Coordinator, and, together with Citigroup, J.P. Morgan, Mizuho Securities, Standard Chartered Bank and UniCredit Bank, as Joint Active Bookrunners for the offering.

Responsible Textile Recovery Act of 2024 signed by Governor

Senator Josh Newman (D-Fullerton) is proud to announce that Senate Bill 707 (SB 707), the Responsible Textile Recovery Act of 2024, has been signed into law by the Governor of California, Gavin Newsom. This groundbreaking legislation establishes the country’s first Extended Producer Responsibility (EPR) textile recycling program, marking a significant step forward in the state’s efforts to combat waste and promote sustainability.

Modtissimo promotes sustainability with 28 coordinates in the Green Circle

Modtissimo is proving more and more to be a textile and clothing show that delivers the latest innovations in the area of sustainability, with the iTechStyle Green Circle being the main showcase for companies' creations. In this 60+4 edition, taking place on 12 and 13 September, 28 coordinates will be exhibited in a section organised by CITEVE and curated by Paulo Gomes.

The EU and Egypt team up to mobilise private sector investments at Investment Conference and sign a Memorandum of Understanding underpinning €1 billion in macro-financial assistance for Egypt

At the EU-Egypt Investment Conference, co-organised by the EU and the Government of Egypt on 29-30 June, the EU and Egypt are teaming up to intensify private sector investments in Egypt. They are also signing a Memorandum of Understanding (MoU) for the disbursement to Egypt of up to €1 billion in Macro-Financial Assistance.

Nike unites innovation, design and product teams to accelerate athlete-centered innovation

Nike, Jordan Brand and Converse are joining forces under a new, athlete-focused creation structure aimed at accelerating innovation and driving growth across NIKE, Inc. The new setup unites the Innovation, Design and Product teams from all three brands into a single “creation engine” that will enable greater sharing of insights, technology and manufacturing methods throughout the innovation process. This integration is part of Nike’s new Sport Offense strategy and is designed to enhance the creation of products that help athletes perform at their best.

Pioneering open-source framework shows how early innovation drives a just and net-zero fashion future

The non-profit H&M Foundation, in collaboration with Accenture, has unveiled From Signals to Systems Change, an insight report calling on the fashion industry to rethink its role in transformation. At its core is the Reimagined System Map, a pioneering open-source framework that visualises how early-stage innovation could drive a just and net-zero textile future.

KARL MAYER puts textiles centre stage

For KARL MAYER, textiles are much more than just materials – they express function, emotion and progress. And they are at the heart of its customers' activities. KARL MAYER is now focusing more than ever on its customers' needs and plans and therefore on the textiles made on its machines: WARP KNITS. At the upcoming ITMA ASIA + CITME, the company will demonstrate how textile solutions are providing new impetus in the categories of Fashion & Clothing and Technical Textiles.

DORNIER celebrates its anniversary at ITMA Asia + CITME

To mark its 75th anniversary, machine and plant manufacturer Lindauer DORNIER will be presenting the latest developments in its rapier and air-jet weaving machines at ITMA Asia + CITME in Singapore (Hall 2, Stand B401) from 28 to 31 October 2025. The focus will be on energy-efficient weaving technologies, new IoT solutions for networked textile production and systems for the series production of modern fibre composite components.

BCI warns against ‘dangerous dilution’ of EU corporate directives

The approval of the European Commission’s Omnibus I proposal by the European Parliament’s Committee on Legal Affairs, accepting controversial changes to key sustainability directives is of great concern. These changes, namely to the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD), threaten to significantly dilute business reporting and due diligence obligations.

Groz-Beckert showcases textile innovation at ITMA Asia + CITME 2025 in Singapore

From October 28 to 31, 2025, the global textile industry will gather at ITMA Asia + CITME at the Singapore Expo, where Groz-Beckert will present its latest highlights and innovations across its six product areas – Knitting, Weaving, Nonwovens, Tufting, Sewing, and Spinning – at Hall 5, Booth B301.