.png){kind=logo}
GC Asia
Accor checks in to hybrid market via €4bn book for €900m
Accor introduced hybrid capital to a new sector of European industry on Monday, becoming the first hotels company to issue a subordinated bond that is treated partly as equity by the rating agencies.
The French company, which claims to be the world’s leading hotel operator with its brands including Novotel, Sofitel and Ibis, is rated BBB-/BBB-, at the bottom end of investment grade, though with stable outlooks. Its hybrids are rated BB/BB.
In the current market, those lower ratings were sure ...Already a subscriber? Login
-
Latest news from Corporate Bonds
-
Surrey Univ follows King’s into US PP market
14 Apr 2021 -
SGS’s aggressive approach lands debut at fair value
14 Apr 2021 -
Lloyds picks resources banker to lead ESG team
14 Apr 2021 -
Belgian Reit Montea sells green US private placements
14 Apr 2021 -
Hanwha Solutions sells Rmb1bn green dim sum
14 Apr 2021
-
-
Latest news from Corporate Bonds
-
Surrey Univ follows King’s into US PP market
14 Apr 2021 -
SGS’s aggressive approach lands debut at fair value
14 Apr 2021 -
Lloyds picks resources banker to lead ESG team
14 Apr 2021 -
Belgian Reit Montea sells green US private placements
14 Apr 2021 -
Hanwha Solutions sells Rmb1bn green dim sum
14 Apr 2021
-
