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SUSTAINABILITY : ACCOR ANNOUNCES THE SUCCESS OF ITS INAUGURAL “SUSTAINABILITY-LINKED BOND” INDEXED TO THE GROUP'S SUSTAINABLE DEVELOPMENT GOALS

€700 MILLION WITH A 7-YEAR MATURITY AND AN ANNUAL COUPON OF 2.375% ISSUE OVERSUBSCRIBED 3.5 TIMES

SUSTAINABILITY : ACCOR ANNOUNCES THE SUCCESS OF ITS INAUGURAL “SUSTAINABILITY-LINKED BOND” INDEXED TO THE GROUP'S SUSTAINABLE DEVELOPMENT GOALS

€700 MILLION WITH A 7-YEAR MATURITY AND AN ANNUAL COUPON OF 2.375% ISSUE OVERSUBSCRIBED 3.5 TIMES

Category: Worldwide - Industry economy - Sustainability
This is a press release selected by our editorial committee and published online for free on 2021-11-22


Today, Accor successfully placed its first bond issue indexed to the Group’s sustainable development goals (Sustainability-Linked Bond) for an amount of €700 million, with a coupon of 2.375%, due November 2028.

The proceeds of this issue will be essentially used to refinance part of the existing debt.

The transaction, which was oversubscribed three and a half times, demonstrates investors’ commitment to sustainable finance and recognizes Accor’s sustainable development ambition.

With this issue, Accor is optimizing its debt profile and further aligning its financing strategy with its CSR ambitions.

This transaction illustrates the Group's ambition to accelerate its transition to sustainable growth as well as stepping up its commitment to reducing greenhouse gas emissions and asserting its environmental and social values by involving the entire value chain.

Issued pursuant to the Sustainability-Linked Bond Framework, these bonds are indexed to the Group’s greenhouse gas emission reduction targets – 25.2% for Scopes 1 and 2 and 15.0% for Scope 3 – by 2025 versus 2019.

The framework defined for this issue is designed to enable future bond issues in a sustainability-linked format.

Sustainalytics also provided the framework with the best possible evaluation with Key Performance Indicators rated “very strong” and Sustainability Performance Targets considered “highly ambitious.”

CA-CIB and HSBC acted as Global Coordinators and bookrunners for the issue. Commerzbank, MUFG, Santander, Société Générale and UniCredit acted as Joint Lead Managers and bookrunners.

ABOUT ACCOR

Accor is a world leading hospitality group consisting of more than 5,200 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry’s most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, unique lifestyle concepts, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor’s unmatched position in lifestyle hospitality – one of the fastest growing categories in the industry – is led by Ennismore, a creative hospitality company with a global portfolio of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivaled portfolio of distinctive brands and approximately 260,000 team members worldwide. 68 million members benefit from the company’s comprehensive loyalty program – ALL - Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States.


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