ACCOR (EPA:AC) - Accor optimizes its capital structure with the successful placement of an OCEANE issue

Transparency directive : regulatory news

30/11/2020 18:12

Press Release
NOVEMBER 30TH 2020

   Accor optimizes its capital structure with the successful placement of an
                                 OCEANE issue

Accor today issued bonds convertible into new shares and/or exchangeable for
existing shares (OCEANEs) for EUR500 million bearing interest at an annual
nominal rate of 0.70% and maturing on December 7th, 2027. The conversion price
has been set at EUR48.12 corresponding to a conversion premium of 65%. The
issue was 6.5x oversubscribed, demonstrating a strong level of interest which
allowed for a quick execution and a favorable coupon.

This successful placement reflects the confidence of the investors in the
Group's fundamentals and its capacity to execute its strategy while the hotel
industry is navigating through unprecedented times.

In line with the financial information disclosed since the beginning of the
year, Accor will report negative EBITDA in 2020, with net profit showing a loss
of more than EUR1 billion. The green shoots of recovery are visible in Asia and
the Pacific, reinforced by first Covid vaccines announcements. Therefore, Accor
aims to return to positive EBITDA in 2021, assuming no third wave of the
pandemic and borders reopening by the end of the first quarter of 2021.

                          Important information

This press release contains forward-looking statements. All statements
contained in this press release other than historical information, including,
but not limited to, statements relating to financial position, business
strategy and management's plans and objectives for future operations, are
forward-looking statements. These forward-looking statements involve risks,
uncertainties and other known and unknown factors that could cause actual
results, performance and achievements, or the results of the industry, to
differ materially from future results, performance or achievements expressed or
implied in these forward- looking statements. These forward-looking statements
are based on a number of assumptions regarding current and future business
strategies and the environment in which Accor will operate in the future. Other
factors could cause actual results, performance or achievements to differ
materially.

This press release does not constitute an offer to sell or a solicitation of an
offer to buy, nor shall there be any sale of common shares in a state or
jurisdiction where such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction.

The distribution of this press release may be restricted by law in certain
countries. Persons in possession of this document are required to inform
themselves about and observe any such local restrictions.

This press release is an advertisement and not a prospectus for the purposes of
Regulation (EU) 2017/1129 of the European Parliament and of the Council of June
14, 2017.

This press release does not constitute an offer or a solicitation to buy or
subscribe securities in the United States. The financial securities mentioned
in this press release have not been registered under the U.S. Securities Act of
1933, as amended (the "Securities Act"), or any securities regulation
applicable in any state or any other jurisdiction in the United States and may
not be offered or sold in the United States absent registration under the
Securities Act or an exemption from this registration requirement. Accor does
not intend to register any part of the offering in the United States or to
conduct a public offering in the United States.

                                    ***

                                ABOUT ACCOR

Accor is a world leading hospitality group consisting of more than 5,000
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 luxury and premium brands, midscale and economy
offerings, unique lifestyle concepts, entertainment and nightlife venues,
restaurants and bars, branded private residences, shared accommodation
properties, concierge services, co-working spaces and more. Accor also boasts
an unrivalled portfolio of distinctive brands and approximately 300,000 team
members worldwide. Over 65 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: ACRFY) in the
United States. For more information visit group.accor.com or follow Accor on
Twitter, Facebook, LinkedIn and Instagram.

Press Contact

Sébastien Valentin
Chief Communications Officer
Tel.: +33 1 45 38 86 25
E.sebastien.valentin@accor.com

Pierre-Loup Etienne
VP Investors Relations
Tel.: +33 (0)1 45 38 47 76
E.pierre-loup.etienne@accor.com

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