AccorHotels: new 1.2 billion euro credit line
(CercleFinance.com) - AccorHotels has announced an agreement with a consortium of 15 banks for the establishment of a new five-year credit facility of 1.
2 billion euros, with two one-year renewal options that may be exercised in 2019 and 2020.
It replaces an undrawn credit facility that was concluded in 2014, which had been reduced to 1.2 billion euros after completion of the sale of AccorInvest. The transaction strengthens AccorHotels' liquidity, while lengthening the average maturity of its funding.
One of the criteria for calculating the margin of the new credit line will be the group's environmental, social and governance (ESG) performance, a performance that is currently being evaluated by Sustainalytics.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2 billion euros, with two one-year renewal options that may be exercised in 2019 and 2020.
It replaces an undrawn credit facility that was concluded in 2014, which had been reduced to 1.2 billion euros after completion of the sale of AccorInvest. The transaction strengthens AccorHotels' liquidity, while lengthening the average maturity of its funding.
One of the criteria for calculating the margin of the new credit line will be the group's environmental, social and governance (ESG) performance, a performance that is currently being evaluated by Sustainalytics.
Copyright (c) 2018 CercleFinance.com. All rights reserved.