French property company Société Foncière Lyonnaise has completed its first EUR 500 mln bond issue. The 4.625% inaugural bond issue is due on 25 May 2016.

Launched last week following roadshows in Paris, London and Frankfurt, the transaction attracted over 150 investors representing an order book of some EUR 2 bn. Nearly 45% of the issue was placed with investors in the UK and Ireland, 32% in France and 13% in Germany.

The issue is part of the strategy implemented by SFL's management to diversify its financing sources, extend the debt maturity profile and strengthen the company's financial capacity.

BNP Paribas, Crédit Agricole CIB, HSBC, Natixis and Société Générale acted as joint bookrunners for the issue.