on ACCOR (EPA:AC)
Accor Successfully Issues €500 Million Perpetual Hybrid Bond
Accor has successfully placed a €500 million perpetual hybrid bond with a 4.875% annual coupon. The bond has a first call date in June 2030.
The bond issue saw high demand, with oversubscription nearing five times. This indicates strong investor confidence in Accor's creditworthiness and growth potential.
The proceeds will be used for general corporate purposes, including refinancing existing debt. The bonds are structured to rank junior to all senior debt and will be recognized as equity according to IFRS standards.
BofA Securities, Crédit Agricole CIB, MUFG, and Natixis acted as Global Coordinators for the issuance. They were supported by BNP Paribas, CIC, Citi, HSBC, and Société Générale as active bookrunners.
R. H.
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