United Kingdom

AccorHotels signs new 1.2 billion euros banking credit facility

Monday, 2 Jul 2018 

July 2 (Reuters) - Accor SA ::* AccorHotels today announced that it has signed an agreement with a consortium of 15 banks for a new €1.2bn Revolving Credit Facility, which margin will be notably dependent on the group’s performance in terms of Environment, Social and Governance (ESG). .* New facility has a five-year tenor with two one-year extension options to be exercised in 2019 and 2020.* It replaces the undrawn €1.8bn facility signed in June 2014, that had been reduced to €1.2bn following the completion of the AccorInvest disposal.* New credit facility will reinforce AccorHotels' liquidity and increase the average maturity of its financial resources .