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Accor
Accor Completes a EUR 600 Million Bond Issue
February 13th, 2009
Today Accor successfully placed a fixed rate bond issue of EUR600 million, with a 5 year-maturity (February 4, 2014) and a coupon of 7.50%. Accor's low leverage together with its BBB long-term rating with stable outlook by Fitch and Standard & Poor's enabled the group to complete this bond issue at satisfying conditions. The bond has been placed with more than 200 European institutional investors. This bond issue aims to diversify the Group's financial resources and to increase the average maturity of its debt. Deutsche Bank, Natixis, and Societe Generale Corporate Investment Bank acted as bookrunners for this...
Source: Health Business Week (2009-02-13)
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