AccorHotels today successfully set the terms of a 7 year bond issue for an amount of EUR 600 million with an annual coupon of 1.25%.
AccorHotels took advantage of the favorable conditions on the credit market to optimize its average cost of funding and lengthen the average maturity of its debt.
The offering was widely over-subscribed, which reflects the high quality of the AccorHotels’ signature, and the investors’ confidence.
The transaction was completed within a short time, and at a very favorable conditions. Based on these elements, the bond was finally raised to EUR 600 million.
Accor’s long-term senior debt is rated BBB- by Standard & Poor’s and Fitch Ratings.
BNP Paribas acted as Global Coordinator and bookrunner for this bond issue.
CM-CIC Market Solutions, Commerzbank, Crédit Agricole CIB, MUFG, Natixis and Société Générale Corporate & Investment Banking acted as joint Lead Managers and bookrunners.