Accor: successful E500m bond issue
(CercleFinance.com) - On Wednesday Accor successfully completed out a perpetual hybrid bond issue of 500 million euros, offering a coupon of 2.
625%.
Investors oversubscribed to the issue by around 6 times, thereby reflecting their confidence in the company's business model and credit profile, Accor said.
"The proceeds of this issue will be dedicated to the reimbursement of its existing hybrid bond with a first call date in June 2020, for which a tender offer was launched and will remain open until Tuesday October 29th, 2019".
Copyright (c) 2019 CercleFinance.com. All rights reserved.
625%.
Investors oversubscribed to the issue by around 6 times, thereby reflecting their confidence in the company's business model and credit profile, Accor said.
"The proceeds of this issue will be dedicated to the reimbursement of its existing hybrid bond with a first call date in June 2020, for which a tender offer was launched and will remain open until Tuesday October 29th, 2019".
Copyright (c) 2019 CercleFinance.com. All rights reserved.