French asset manager Paref has announced the signing of a corporate financing for €90 mln.
The financing consists of a €50 mln loan with a five-year maturity and a confirmed undrawn credit line of €40 mln with a four-year maturity. The facility will enable the group 'to refinance its debt and pursue its ongoing and future development projects'.
The loan has 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. It has been granted by HSBC Continental Europe, acting as coordinator, arranger, ESG arranger and agent, Crédit Agricole Ile-de-France acting as arranger and ESG arranger, and Caisse d'Epargne Bretagne - Pays de Loire.
'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,' said CFO Jia Wang.
Paref manages around €3 bn of European property assets.