(Boursier.com) — Following record 2023 results, Accor successfully placed a 7-year bond issue for an amount of 600 million euros, with a coupon of 3.875%.
The operation was oversubscribed more than 4 times, “reflecting the solidity of Accor’s credit quality and investors’ confidence in its business model, its growth potential and its financial structure.” This operation allows the hotel group to benefit from current good market conditions and significantly extend the average maturity of its debt.
Proceeds from the issue will be used for the general purposes of the group.
The Group’s long-term debt is rated ‘BBB-‘ by Standard & Poor’s and Fitch Ratings.
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