Accor announces the success of its new hybrid bond

Regulated information    

 OCTOBER 4^TH, 2023

Accor announces the success of  its new hybrid bond 

€500 MILLION PERPETUAL HYBRID BOND ISSUE 

WITH A FIRST CALL DATE IN APRIL 2029 AND AN ANNUAL COUPON OF 7.25% OVERSUBSCRIBED FOUR TIMES

Following the rating upgrade to Investment Grade by Fitch and Standard & Poors,  Accor, today, successfully placed a EUR500m perpetual hybrid bond issue with a 7.25% coupon. 

The oversubscription of the transaction at about 4 times reflects the renewed investors’ confidence in the Group’s solid creditworthiness and growth potential.

The proceeds of this issue will be dedicated to the reimbursement of its existing hybrid bond with a first call date in January 2024, for which a tender offer was launched and will remain open until Monday October 9th, 2023.

The new perpetual hybrid bonds have a first call date in April 2029, with a 7.25% coupon until that date. The securities will rank junior to all senior debt and they will be recognized as equity, in accordance with IFRS standards. They will be assigned “intermediate” equity content by Standard & Poors and Fitch, i.e. with 50% of the securities being accounted as equity.

Citi, HSBC and SG acted as Global Coordinators for the issue, and Commerzbank, Mizuho, MUFG, Natixis and Santander acted as Active bookrunners.

ABOUT ACCOR

Accoris a world leading hospitality group offering experiences across more than 110 countries in 5 400 properties, 10 000 food & beverage venues, wellness facilities or flexible workspaces. The Group has one of the industry’s most diverse hospitality ecosystems, encompassing more than 40 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. Accor is committed to taking positive action in terms of business ethics & integrity, responsible tourism, sustainable development, community outreach, and diversity & inclusion.  Founded in 1967, Accor SA is headquartered in France and publicly listed on Euronext Paris (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit www.group.accor.comor follow us onTwitter, Facebook, LinkedIn,InstagramandTikTok.   

Relations presse

Relations investisseurs et Analystes

 Pierre-Loup Etienne                           Nastassja Mirza                                             

SVP Investor Relations and Financial       Investor Relations and Financial

Communications                                     Communications Executive Director

pierre-loup.etienne@accor.com                nastassja.mirza@accor.com