ACCOR - Hybrid bond refinancing - 28082024

Regulated information    

 AUGUST 28^TH, 2024

Accor announces a hybrid bond refinancing transaction

ACCOR SA (the “Company”) today announces its intention to issue new Euro- denominated undated non-call 6 year deeply subordinated fixed to reset rate bonds for an expected amount of EUR 500 000 000 with a first call date at the option of the Company in June 2030 (the “New Hybrid Bonds”).

At the same time, the Company also announces the launch of an any and all tender offer on its EUR 500,000,000 Undated Deeply Subordinated Fixed to Reset Rate NC 5.5 Bonds issued on 30 October 2019 (ISIN: FR0013457157, the “Existing Bonds”, of which €500,000,000 are currently outstanding), admitted to trading on Euronext Paris.

The tender offer price in respect of the Existing Bonds will be 99.55% of the principal amount of the Existing Bonds accepted for purchase.

It is the Company’s intention to maintain the aggregate amount of its outstanding hybrid bonds at the current level and the Company remains committed to hybrid capital as a permanent part of its capital structure.

The New Hybrid Bonds are scheduled to be admitted to trading on Euronext Paris. It is also expected that the rating agencies will assign a rating of BB/BB (S&P / Fitch) and an intermediate equity content of 50%.

The tender offer will commence on August 28, 2024 and will expire at 5:00 p.m., Paris time, on September 4, 2024. Settlement is expected to take place on  September 9, 2024.

The results of the tender offer on the Existing Bonds will be announced on  September 5, 2024 (subject to any extension, withdrawal, termination or amendment of the tender offer).

ABOUT ACCOR

Accoris a world-leading hospitality group offering experiences across more than 110 countries in 5,700 properties, 10,000 food & beverage venues, wellness facilities and flexible workspaces. The Group has one of the industry’s most diverse hospitality ecosystems, encompassing more than 45 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. Accor is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity, and inclusivity.  Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit group.accor.comor follow us on X,Facebook,LinkedIn,Instagramand TikTok.  

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