AccorHotels today successfully set the terms of a seven year bond issue for an amount of €600 million with an annual coupon of 1.25 per cent.
AccorHotels took advantage of the favourable conditions on the credit market to optimise 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 favourable conditions,” Accor said in a statement.
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.