Accor: partial refinancing of hybrid debt completed

(CercleFinance.com) - Accor announced on Thursday that it had completed the partial refinancing of its hybrid debt, an operation that has enabled the hotel group to take out a new loan on more advantageous terms.


The buyback offer, launched on 28 August and expected to be over on 9 September, should enable Accor to acquire almost 70.5% of the initial amount of existing bonds.

The operation concerned undated deeply subordinated notes redeemable from year 5.5 bearing interest at a fixed rate and then at a variable rate for an amount of E500m, issued in 2019.

Out of this sum, the amount repurchased corresponds to E352.3m, Accor states.

The company points out that this transaction was an "important step" in its refinancing following the success, at the end of August, of its perpetual hybrid issue for E500m with a coupon of 4.875%.


Copyright (c) 2024 CercleFinance.com. All rights reserved.