Industry Update
Press Release31 January 2019

AccorHotels optimizes its financial structure through the refinancing of more than EUR1bn of its debt

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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:

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  • 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 Accor

Accor is a world-leading augmented hospitality group offering unique experiences in more than 5000 hotels and residences across 110 destinations. The Group has been acquiring hospitality expertise for more than 50 years, resulting in an unrivaled portfolio of 39 hotel brands, from luxury to economy, supported by one of the most attractive loyalty programs in the world.

ALL, Accor Live Limitless is a daily lifestyle companion that integrates rewards, services and experiences bringing value to everyday life inventing a completely new aspirational way to live limitless.

Accor is deeply committed to sustainable value creation and plays an active role in giving back to planet and community via its Planet 21 - Acting Here program and the Accor Solidarity endowment fund, which gives disadvantaged groups access to employment through professional training.

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 visit accor.com. Or become a fan and follow us on Twitter and Facebook.

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