ACCOR (EPA:AC) - AccorHotels optimizes its financial structure through the refinancing of more than EUR1bn of its debt
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31/01/2019 07:30
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Press Release
Paris, January 31st, 2019
AccorHotels optimizes its financial structure through the refinancing of more
than EUR1bn of its debt
AccorHotels today announces the success of tender offers and partial repurchase
of two bonds of which a perpetual hybrid bond (4.125% coupon) and a senior bond
maturing in 2021 (2.625% coupon), for a total amount of EUR736m.
These transactions complete the liability management operation started with the
successful two bond issues completed on January 24th, 2019, for EUR1.1bn (a
EUR500m perpetual hybrid bond with a 4.375% coupon and a EUR600m 7-year senior
bond with a 1.75% coupon).
The targeted hybrid bonds and the targeted senior bonds will be repurchased in
the following amounts:
- EUR386m on the perpetual hybrid bonds (EUR900m Undated 6 Year Non-Call Deeply
Subordinated Fixed to Reset Rate Bonds issued on 30 June 2014)
- EUR350m on the 2021 bonds (EUR900m 2.625% Bonds due 5 February 2021)
Moreover, the Group will redeem its EUR335m bonds maturing in March 2019.
As per these transactions, the Group will lengthen the average maturity of its
debt by more than one year, while optimizing its average cost of funding.
AccorHotels' long-term senior debt is rated BBB- by Standard & Poor's and Fitch
Ratings.
ABOUT ACCORHOTELS
AccorHotels is a world-leading travel & lifestyle group and digital innovator
offering unique experiences in more than 4,600 hotels, resorts and residences
across 100 different countries.
With an unrivaled portfolio of internationally renowned hotel brands
encompassing the entire range from luxury to economy, from upscale to lifestyle
and midscale brands, AccorHotels has been providing savoir-faire and expertise
for more than 50 years.
In addition to its core hospitality business, AccorHotels has successfully
expanded its range of services, becoming the world leader in luxury private
residence rental with more than 10,000 stunning properties around the world.
The Group is also active in the fields of concierge services, co-working,
dining, events management and digital solutions.
Relying on its global team of more than 250,000 dedicated staff, AccorHotels is
committed to fulfilling its primary mission: to make every guest Feel Welcome.
Guests have access to one of the world's most attractive hotel loyalty programs
- Le Club AccorHotels.
AccorHotels plays an active role in its local communities and is committed to
promoting sustainable development and solidarity through PLANET 21 Acting Here,
a comprehensive program that brings together employees, guests and partners to
drive sustainable growth.
From 2008, the AccorHotels Solidarity Endowment Fund has acted as a natural
extension of the Group's activities and values, helping to combat the social
and financial exclusion experienced by the most disadvantaged members of
society. Accor SA is publicly listed on the Euronext Paris Stock Exchange (ISIN
code: FR0000120404) and on the OTC Market (Ticker: ACRFY) in the United States.
For more information or to make a reservation, please visit accorhotels.group
or accorhotels.com. Or join and follow us on Twitter and Facebook.
Media relations contacts
Carina Alfonso Martin Line Crieloue
VP Media Relations Worldwide Media Relation
Tel: +33 (0)1 45 38 84 84 Tel: +33 (0)1 45 38 18 11
Email : carina.alfonsomartin@accor.com Email: line.crieloue@accor.com
Investor and Analyst Relations
Sébastien Valentin Pierre-Loup Etienne
Chief Communications Officer Investors Relation
Tel: +33 (0)1 45 38 86 25 Tel: +33 (0)1 45 38 47 76
Email: sebastien.valentin@accor.com Email: pierre-loup.etienne@accor.com