Foncière des Murs issues a EUR 255m secured bond

Foncière des Régions' hospitality arm Foncière des Murs has issued a EUR 255 mln secured bond with a coupon of 3.682%.

The bond, FdM's first issuance, is secured by hotel assets rented by Accor and matures in seven years.

'This issue, listed on Euronext Paris and arranged by HSBC France, allows Foncière des Murs to pursue its strategy of diversifying its financing sources and extending the maturity of its debt,' the company said in a statement.

This new financing takes the total amount of Foncière des Murs debt refinanced since the beginning of 2012 to EUR 520 mln. The company owns roughly EUR 2.9 bn of assets.