French property investment company Societe Fonciere Lyonnaise (SFL) has reached agreement with a consortium of eight banks on a new EUR 300 mln financing facility.

The bank syndicate includes Banque de l’Economie du Commerce et de la Monétique, BNP Paribas, Calyon, Crédit Agricole, Crédit Foncier, HSBC, Natixis and Société Générale.

BNP Paribas is the arranger and agent of the operation.

SFL said that the new loan, which has a maturity of five years, will enable the firm to refinance part of its current debt and provide additional funding for its future investments.

'This transaction demonstrates SFL's ability to mobilise the necessary resources to support its growth in a sensitive economic environment,' the company said in a statement on Friday.

Listed on Euronext Paris, SFL has a portfolio valued at nearly EUR 3.3 bn mostly comprising retail assets in the Paris Central Business District.