Accor turns to bank group for virus crisis funding
France’s Accor, a hospitality company, has signed a €560m short term crisis revolving credit facility, as banks continue to be called upon to support the sectors hardest hit by the coronavirus pandemic.
The one-year revolver comes with two six month extension options and sits alongside the company’s undrawn €1.2bn main revolving credit facility.BNP Paribas, Crédit Agricole, Crédit Industriel et Commercial, Natixis and Société Générale provided the facility. The banks were already relationship lenders to the company.
“Relationship banks are even ...