European real estate management specialist Paref has completed a €90 mln refinancing package to restructure its debt and support future development projects.
The package includes a €50 mln loan with a five-year maturity and a €40 mln confirmed credit line with a four-year maturity.
Paref opted for a sustainability-linked corporate loan, in line with its ESG strategy, targeting key performance indicators like reducing carbon emissions and improving asset labeling.
The financing has been granted by a consortium of banks including HSBC, Crédit Agricole Ile-de-France, and Caisse d'Epargne Bretagne-Pays de Loire.
Jia Wang, CFO Paref Group, said: ‘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 sustainable financing is a concrete action following Paref's ESG strategy, which is deployed across all activities and projects of the Group.’
Allen & Overy and Wargny Katz Notaires provided legal counsel to Paref.
Paref Group operates in France, Germany, Italy, and Switzerland and, as of 30 June, managed over €3bn in assets.