Accor asks to amend €900 million 2.625% bonds due 2021 for spinoffs

By Susanna Moon

Chicago, May 24 – Accor SA has scheduled a meeting in Paris on June 13 for holders of its €900 million 2.625% bonds due Feb. 5, 2021 issued in two tranches.

At the meeting, the company will ask holders to approve the proposed partial asset contribution governed by the legal regime for spinoffs made by the company to its subsidiary AccorInvest, which will form part of the implementation of the booster project, remunerated by the allocation of shares of AccorInvest, according to a notice.

The consent fee will be 0.15%, payable July 4, if the measures pass on the first or second round regardless of whether the bondholder voted for them or not.

Accor, using the brand name AccorHotels, is a French multinational hotel group based in Ile-de-France, France.

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