AccorHotel raises £520m through bond issue
AccorHotels has raised £520m (€600m) through a seven-year bond issue as part of a debt restructuring programme.
The firm said that it was taking advantage of favourable market conditions to offer an annual coupon of 1.25%. It added that the offering was oversubscribed.
In a statement, Accor said: "The transaction was completed within a short time, and at a very favorable conditions. Based on these elements, the bond was finally raised to €600m.
"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. Joint lead managers and bookrunners included CM-CIC Market Solutions, Commerzbank, Crédit Agricole CIB, MUFG, Natixis and Société Générale.
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