News Column

Signature of a 1.8 Billion euro syndicated line of credit

June 12, 2014

PR Newswire/Les Echos/ Press release June 12, 2014 Signature of a 1.8 Billion euro syndicated line of credit As part of the Group's financial optimization process, Accor announced today that it has closed a euro 1.8 billion syndicated line of credit with a group of 18 banks. The new facility replaces the euro 1.5 billion undrawn syndicated credit facility signed in May 2011, which was scheduled to expire in May 2016. This new five-year facility will lengthen the average maturity of Accor's financial resources, in line with the Group's cautious policy on liquidity management. The syndication was launched for 1.6 billion euros. It was closed widely over-subscribed, allowing Accor to raise the total amount of the syndicated credit facility up to 1.8 billion. The success of the operation reflects the renewed market's confidence in Accor and its sound financial situation. CrÉdit Agricole Corporate and Investment Bank, BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ LTD and Commerzbank AG acted as global coordinators for Accor. SociÉtÉ GÉnÉrale was appointed as facility agent. Accor, the world's leading hotel operator, offers its guests and partners the dual expertise of a hotel operator and brand franchisor (HotelServices) and a hotel owner and investor (HotelInvest) with the objective of ensuring lasting growth and harmonious development for the benefit of the greater number. With around 3,600 hotels and 460,000 rooms, Accor welcomes business and leisure travelers in 92 countries across all hotel segments: luxury-upscale with Sofitel, Pullman, MGallery, and Grand Mercure, midscale with Novotel, Suite Novotel, Mercure and Adagio and economy with ibis, ibis Styles, ibis budget and hotelF1. The Group boasts a powerful digital ecosystem, notably its booking portal, its brand websites and its loyalty program Le Club Accorhotels. As the world's top hospitality school, Accor is committed to developing the talents of its 170,000 employees in Accor brand hotels. They are the daily ambassadors of the culture of service and innovation that has driven the Group for over 45 years. Follow news on Accor: Book a hotel: @accor | MEDIA RELATIONS Charlotte Bourgeois-ClearyDelphine Dumonceau Vice President Media Relations Media Relations Phone: +33 (0)1 45 38 84 84 Phone: +33 (0)1 45 38 84 95 INVESTOR AND ANALYST RELATIONS SÉbastien Valentin Marie Niel Senior Vice President Investor Investor Relations Relations and Financial Phone: +33 (0)1 45 38 86 94 Communication Phone: +33 (0)1 45 38 86 25 The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication.

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Source: PR Newswire TOD Wire

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