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BNP Paribas wraps tender offer for Accors 2.875% bonds, 2.5% bonds
By Susanna Moon
Chicago, Sept. 11 BNP Paribas said investors had tendered of 332.7 million of Accor SAs 700 million 2.875% bonds due June 2017 and 264.9 million of 600 million 2.5% bonds due March 2019.
The tender offer ended at Sept. 10. The offer began Sept. 3.
After settlement on Sept. 15, there will be outstanding 367.3 million of the 2.875% bonds and 335.1 million of the 2.5% bonds.
The purchase price for the 2.5% bonds was set at 106.238 using interpolated mid-swap rate of 0.206%, according to a notice by BNP Paribas.
Pricing for the 2.5% bonds was set on Sept. 11 using the 2019 interpolated mid-swap rate plus a spread of 49 basis points.
The tender offer price for the 2.875% bonds will be 105.059, or 105,059 for each 100,000 principal amount assuming a settlement date of Sept. 15, as previously announced.
The dealer managers are Banco Santander, SA (+44 20 7756 6909 or tommaso.grospietro@santandergbm.com), Commerzbank AG (+49 (0) 69 136 59920, attn.: liability management group, liability.management@commerzbank.com), Barclays Bank plc (+44 (0) 203 134 8515, attn.: liability management group, eu.lm@barclays.com), Mitsubishi UFJ Securities International plc (+44 0 20 7577 4218 / +44 0 20 7577 2326 or DCM-LiabilityManagement@int.sc.mufg.jp), BNP Paribas (+44 207 595 8668 or liability.management@bnpparibas.com) and Societe Generale (+33 1 42 13 79 52 or liability.management@sgcib.com).
The information agent is BNP Paribas Securities Services (+33 1 57 43 10 77 or paris.bp2s.information.agent@bnpparibas.com). The tender agent is BNP Paribas Securities Services (+33 1 55 77 61 60, fax +33 1 57 43 31 38 or paris.bp2s.offers@bnpparibas.com).
Accor is a Paris-based hotels and services company.
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