A&O Shearman advises Accor on €380 million OCEANEs issue and concurrent repurchase of 2027 tranche

A&O Shearman advised Accor S.A. on its issuance of convertible bonds and on the concurrent repurchase of part of its existing OCEANEs due 2027, while White & Case advised the banks involved in the transaction. Accor S.A. issued €380 million of convertible bonds into new shares and/or exchangeable for existing shares (OCEANEs) with a 2032 maturity. The offering, reserved for qualified investors, was successfully completed on 2 September 2026. The bonds have a five-and-a-half year tenor and carry an annual coupon of 1.375%. Settlement of the issuance took place on 9 September 2026. Concurrently, Accor repurchased a portion of its outstanding OCEANEs maturing in 2027. The repurchase price was determined through a reverse bookbuilding process and set at €57.6526 per bond, representing a total consideration of approximately €380 million. Settlement of the repurchase occurred on 10 September 2026. The operation forms part of Accor S.A.’s active debt management policy aimed at optimising its financing maturity profile. A&O Shearman represented Accor S.A. with a team composed by: Olivier Thébault, partner, assisted by Jade Billère-Mellet, senior associate, on capital markets and M&A; Mathieu Vignon, partner, and Virginie Chatté, senior associate, on tax; and Diana Billik, partner, and Maggie Casteel, senior associate, on US securities law. White & Case represented the banks with a team composed by: Séverin Robillard, partner, and Tatiana Uskova, partner, assisted by Eva Brunelli Brondex, associate, on capital markets.

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A&O Shearman advises Accor on €380 million OCEANEs issue and concurrent repurchase of 2027 tranche

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A&O Shearman advises Accor on €380 million OCEANEs issue and concurrent repurchase of 2027 tranche

Read the full story

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