(CercleFinance.com) – Accor today successfully placed a 7-year bond issue for an amount of 600 million euros with a coupon of 3.875%.
The transaction was oversubscribed more than 4 times, reflecting the strength of Accor’s credit quality and investor confidence.
This operation allows the Group to benefit from current good market conditions and significantly extend the average maturity of its debt.
The proceeds of 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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