United Kingdom

AccorHotels refinances more than 1 bln euros of its debt

Thursday, 31 Jan 2019 

Jan 31 (Reuters) - Accor SA ::* Optimizes its financial structure through the refinancing of more than 1 billion euros worth of its debt .* Announces the success of tender offers and partial repurchase of two bonds of which a perpetual hybrid bond (4.125% coupon) and a senior bond maturing in 2021 (2.625% coupon), for a total amount of EUR736m.* Company will also redeem its EUR335m bonds maturing in March 2019..* AccorHotels will lengthen the average maturity of its debt by more than one year, while optimizing its average cost of funding.* AccorHotels' long-term senior debt is rated BBB- by Standard & Poor’s and Fitch Ratings.