Share price

€45.00
( -0.44 %)
02/23/2024-5:22 p.m.

Share price

€45.00
( -0.44 %)
02/23/2024-5:22 p.m.

PAREF signs a Sustainability-Linked Loan (SLL) to refinance the Group

PAREF announces that it has signed corporate financing today for a total amount of 90 million euros.

This financing - composed of a €50 Mn loan with 5-year maturity and a confirmed undrawn credit line of €40 Mn with 4-year maturity - will enable the Group to refinance its debt and pursue its on-going and future development projects.

PAREF has opted for a sustainable financing in line with its convictions and its ESG strategy "Create More". This is a Sustainability-Linked Loan (SLL), with an ESG Framework based on Key Performance Indicators such as carbon emission reduction and asset labelling, as well as Sustainability Performance Targets over the financing period.
The ESG framework, assessed by EthiFinance, an independent rating agency with expertise in finance and sustainable development, is compliant with the principles of the Loan Market Association (LMA).

The Sustainability-Linked Loan is granted by HSBC Continental Europe, acting as Coordinator, Arranger, ESG Arranger and Agent, Crédit Agricole Ile-de-France acting as Arranger et ESG Arranger, and Caisse d'Epargne Bretagne - Pays de Loire, assisted by their advisors Gide Loyrette Nouel and 14 Pyramides Notaires. PAREF is advised by Allen & Overy and Wargny Katz Notaires.

“We are delighted to announce the signing of this refinancing, which will enable PAREF Group to continue implementing its sustainable growth strategy in France and at European level. The choice of a sustainable financing is a concrete action following PAREF's ESG strategy, which is deployed across all activities and projects of the Group. We warmly thank our bank partners HSBC and Crédit Agricole Ile-de-France for their renewed confidence, and Caisse d'Epargne Bretagne - Pays de Loire for their support, as well as all the counsels for their diligence in carrying out this important operation."»