Accor Successfully Places €600 Million 7-Year Bond, Demonstrating Strong Market Confidence

Accor has effectively launched a new senior bond, amassing €600 million over a 7-year term with an annual coupon rate of 3.875%, immediately following its record annual results for 2023. This significant financial move was met with robust market enthusiasm, evidenced by the issue being oversubscribed more than 4 times. The transaction underscores the market's confidence in Accor's robust credit quality, its business model's growth potential, and its financial structure's solidity. Furthermore, this bond issuance allows Accor to capitalize on favorable market conditions while also extending the average maturity of its debt portfolio. The proceeds from this bond will be allocated towards general corporate purposes of the group.

Accor's long-term debt continues to be rated BBB- by major credit rating agencies, Standard & Poor's and Fitch Ratings, reflecting a stable financial outlook. The successful coordination and management of the bond issue involved major financial institutions, including BNP Paribas, Crédit Agricole CIB, and Commerzbank as global coordinators, alongside CIC, Deutsche Bank, Mizuho, and Santander as Joint Lead Managers and Bookrunners.