PAREF announces that it has signed corporate financing today for a total amount of 90 million euros. This financing – made up of a loan of 50 million euros for a maturity of 5 years and a confirmed available credit line of 40 million euros for a maturity of 4 years – allows the Group to refinance its debt and to continue current and future development projects.
PAREF has opted for sustainable financing, in line with its convictions and its “Create More” ESG strategy. In this case, it is a “Sustainability-Linked Loan” (SLL), with a sustainable financing framework (ESG Framework) around Key Performance Indicators such as the reduction of carbon emissions and the labeling of assets, as well as Sustainability Performance Targets during the financing period.
This framework, assessed by EthiFinance, an independent rating agency with expertise in finance and sustainable development, is aligned with the principles of the Loan Market Association (LMA).
This sustainable financing is provided by HSBC Continental Europe which acted as Coordinator, Arranger, ESG Arranger and Agent, Crédit Agricole Ile-de-France which acted as Arranger and ESG Arranger, and Caisse d’Epargne Bretagne – Pays de Loire, assisted by their advisors Gide Loyrette Nouel and 14 Pyramides notaries. PAREF is advised by Allen & Overy and Wargny Katz Notaries.
“We are delighted to announce the signing of this refinancing, which allows the PAREF Group to continue to implement its sustainable growth strategy in France and at European level. The choice of sustainable financing concretely reflects PAREF’s ESG strategy, which is deployed across all of the Group’s activities and projects.
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We warmly thank our banking partners HSBC and Crédit Agricole Ile-de-France for their renewed trust, and Caisse d’Epargne Bretagne – Pays de Loire for their support, as well as all the advice for their diligence in carrying out this structuring operation. »
Jia Wang – Financial Director
Financial diary
February 22, 2024: 2023 Annual Results
About the PAREF Group
PAREF is a leading European player in real estate management, active for more than 30 years with the aim of becoming one of the leaders in real estate management by relying on recognized know-how. Today, the Group operates in France, Germany, Italy and Switzerland and operates across the entire value chain of real estate investment businesses: investment, fund management, management of renovation and development projects, management assets, rental management. This 360° coverage allows it to offer integrated and tailor-made services to institutional and individual investors.
Committed, the Group aims to contribute to creating more value and sustainable growth and has placed CSR issues at the heart of its strategy. As of June 30, 2023, the PAREF Group manages more than 3.0 billion euros of assets.
PAREF is a SIIC real estate company, listed on compartment C of Euronext Paris – FR0010263202 – PAR.
More information on www.paref.com
Press Contacts
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PAREF Group Samira Kadhi +33 7 60 00 59 52 [email protected] |
Citigate Dewe Rogerson Yoann Besse / Marlène Brisset +33 6 63 03 84 91 / +33 6 59 42 29 35 [email protected] |
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