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Accor SA - Tender Offer - Launch

Accor announces a hybrid bond refinancing transaction - FR0013399177

02 OCTOBER 2023

Full announcement including disclaimers and offer restrictions available via Accor SA

"ACCOR SA (the “Company”) today announces its intention to issue new Eurodenominated undated non-call 5.5 year deeply subordinated fixed to reset rate bonds for an expected amount of EUR 500,000,000 with a first call date at the option of the Company in April 2029 (the “New Hybrid Bonds”).

At the same time, the Company also announces the launch of an any and all tender offer on its EUR 500,000,000 Undated Deeply Subordinated Fixed to Reset Rate NC 5.25 Bonds issued on 31 January 2019 (ISIN: FR0013399177, the “Existing Bonds”, of which €500,000,000 are currently outstanding), admitted to trading on Euronext Paris.

The tender offer price in respect of the Existing Bonds will be 100% of the principal amount of the Existing Bonds accepted for purchase.

It is the Company’s intention to maintain the aggregate amount of its outstanding hybrid bonds at the current level and the Company remains committed to hybrid capital as a permanent part of its capital structure."


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