French hotel group Accor SA (AC.FR) Thursday said it has secured a EUR1.5 billion five-year syndicated loan to replace an existing loan that was scheduled to expire in June 2012.

The new credit replace a syndicated loan signed in June 2007, which was later reduced to EUR1.7 billion, the company said in a statement.

The banks participating in the credit include Banc of America (BAC), BNP Paribas SA (BNP.FR), Commerzbank AG (CBK.XE), Credit Agricole SA (ACA.FR) and Deutsche Bank (DB), among others.

Shares of Accor were down 1% at EUR30.45 at 0715 GMT, while the CAC-40 index was down 1.1%.

-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740; inti.landauro@dowjones.com

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