Large success for the launch of a bond offering

Accor today successfully set the terms of a 7 year bond issue for an amount of EUR 750 million with an annual coupon of 2.625%.Despite a contrasted market environment, the order book

totaled more than EUR3bn; i.e. more than a 6 times the initial targeted amount. The transaction could therefore be completed within a short time, and at a very favorable price. Based on these elements, the bond was finally raised to EUR 750 million.

 
This operation reflects the high quality of the Accor signature, and the investors’ confidence. It enables Accor to both lengthen the average maturity of its debt and decrease significantly its average cost of funding.

 
Accor’s long-term senior debt is rated BBB- by Standard & Poor’s and Fitch Ratings.
Societe Generale Corporate & Investment Banking acted as Global Coordinator and bookrunner for this bond issue; Credit Agricole CIB, HSBC, Natixis and UBS Investment Bank acted as joint lead managers and bookrunners.