Accor SA (FR:AC) has released an update.
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Accor SA announces its plan to issue new hybrid bonds valued at EUR 500 million, alongside a tender offer for the same amount on existing bonds, maintaining its hybrid capital level. The new bonds, expected to be rated BB/BB, will be traded on Euronext Paris, emphasizing Accor’s commitment to hybrid capital as a key component of its financial strategy. The tender offer is set to commence on August 28, 2024, with the final results being announced on September 5, 2024.
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