Accor announces a bond refinancing transaction

Paris, November 15, 2021

Strategy — Corporate

ACCOR SA (the "Company") today announces its intention to issue new 7-year Benchmark Senior euro-denominated bonds due November 2028 (the “New Bonds”). The New Bonds will be issued in the form of “Sustainability-Linked Bonds” pursuant to the “Sustainability-Linked Bond Framework” published by the Company on 15 November 2021.
At the same time, the Company also announces the launch of a tender offer by Crédit Agricole Corporate and Investment Bank on the following series of bonds of the Company:

EUR 500 million 3.625% bonds due September 17, 2023 (ISIN: FR0012949949; of which EUR 500 million are currently outstanding)

And

EUR 600 million 2.250% bonds due January 25, 2024 (ISIN: FR0013233384; of which EUR 600 million are currently outstanding).

(Together the “Targeted Bonds”, listed on Euronext Paris), for a maximum acceptance amount to be announced as soon as reasonably practicable following the pricing of the New Bonds.

The Company intends to exchange the Targeted Bonds acquired by Crédit Agricole Corporate and Investment Bank in the tender offer with the New Bonds, and the balance (if any) of the proceeds remaining from the issue of the New Bonds will be used for the Issuer’s general corporate purposes.

The New Bonds are scheduled to be admitted to trading on Euronext Paris. It is also expected that the rating agencies will assign the following ratings: a rating of BB+ / BB+ (S&P / Fitch).

The conditional results of the tender offer will be announced on November 23, 2021 (subject to any extension, withdrawal, termination or amendment of the tender offer) on the Targeted Bonds.

ABOUT ACCOR

Accor is a world leading hospitality group consisting of more than 5,200 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry’s most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor’s unmatched position in lifestyle hospitality – one of the fastest growing categories in the industry – is led by Ennismore, a creative hospitality company with a global portfolio of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivalled portfolio of distinctive brands and approximately 260,000 team members worldwide. 68 million members benefit from the company’s comprehensive loyalty program – ALL - Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information visit group.accor.com, or follow Accor on Twitter, Facebook, LinkedIn, and Instagram.