On September 5, Accor successfully completed the refinancing of its October 2019 hybrid bond following the completion of the Tender Offer on a perpetual hybrid bond (4.875% coupon) for a total amount of €352.3 million. Following the completion and settlement of the Tender Offer which took place on September 9, more than 70.46% of the initial aggregate principal amount of the Existing Bonds have been purchased by Accor.