09/18/2024 AccorInvest Group SA (ACCINV) EUR750m (up from EUR600m) sr sec notes due 10/15/29 (5y). NC2 (1015/26) (MWC B+50bp), then at 103.1875, 101.59375, 100). Equity claw: 2y 40% at 106.375. Special call: 10% per year the first 2 years at 103. B2/B+/BB (stable/stable/stable). Via BNP (B&D) physical books/BofA/CA/Natixis/SocGen jt glocos/Commerz/MUFG jt books, Bank of China, CIC Mkt Solutions, NatWest as co-managers. No reg rights. List Lux. NY law. CoC at 101. Settles 10/02 (T+10). Reg S ISIN: XS2900445375. IPT: high 6s. EUR175m upsize to repay part of its existing term loans. Price talk: 6.50% area. Priced: 6.375% at 100. +433bp vs OBL 2.50% 10/11/29. Roadshow 1-on-1s 09/16-17 (investor call at 10:30am UKT 09/16). Books closed at 12:30pm UKT 09/18. (Originally pricing 09/19). UOP: repay EUR457m bridge loan, and repay a portion of its term loans A (EUR67m) and B (EUR67m) (EUR150m upsize to repay part of its existing term loans). Biz: leading European hotel owner and operator with a focus on the economy and midscale segment. All are managed by Accor SA, which owns 30% of AccorInvest. HQ: Luxembourg.
Investor call link: https://dealroadshow.com/e/ACC...
DealRoadshow link: https://dealroadshow.com/e/ACC...