AccorHotels: two bond issues for E1.1bn
(CercleFinance.com) - AccorHotels announced that on Thursday it placed a perpetual hybrid emission of 500 million euros, with a coupon of 4.
375%, and a senior bond issue of 600 million euros, maturing in seven years, with a coupon of 1.75%.
"The average oversubscription of both transactions, at about 6 times, reflects investors' very strong confidence, recognizing the Group's new business model, growth potential and attractive risk profile.
," the hotel chain said.
The proceeds of these issues will be used to repay existing bonds, and will significantly extend the group's debt maturity, while optimising its cost of debt and consolidating its investment grade status.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
375%, and a senior bond issue of 600 million euros, maturing in seven years, with a coupon of 1.75%.
"The average oversubscription of both transactions, at about 6 times, reflects investors' very strong confidence, recognizing the Group's new business model, growth potential and attractive risk profile.
," the hotel chain said.
The proceeds of these issues will be used to repay existing bonds, and will significantly extend the group's debt maturity, while optimising its cost of debt and consolidating its investment grade status.
Copyright (c) 2019 CercleFinance.com. All rights reserved.