BNP tenders for Accor’s 2.875% bonds due 2017 and 2.5% bonds due 2019

By Susanna Moon

Chicago, Sept. 3 – BNP Paribas said it began a cash tender offer for Accor SA’s €700 million 2.875% bonds due June 2017 and €600 million 2.5% bonds due March 2019.

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.

Pricing for the 2.5% bonds will be set on Sept. 11 using the 2019 interpolated mid-swap rate plus a spread of 49 basis points.

The tender offer will run until Sept. 10.

The dealer managers are Banco Santander, SA (+ 44 20 7756 6909 or tommaso.grospietro@santandergbm.com), Commerzbank AG (+49 (0) 69 136 59920

Attention: Liability Management Group Email: liability.management@commerzbank.com), Barclays Bank plc (+ 44 (0) 203 134 8515 Attention: Liability Management Group e-mail: 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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