Accor SA (FR:AC) has released an update.
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Accor SA has successfully completed a significant step in refinancing its hybrid capital by repurchasing €352.3 million of the €500 million in outstanding bonds, representing 70.46% of the initial amount. The tender offer, which began on August 28, 2024, coincides with the issuance of new perpetual hybrid bonds valued at €500 million with a lower coupon rate of 4.875%. The transaction is set to finalize on September 9, 2024, further solidifying Accor’s financial strategy.
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