NEXITY RENEWS ITS CORPORATE CREDIT FOR AN AMOUNT OF €800M,
WITH ENVIRONMENTAL CRITERIA
22 February 2023 – Nexity announces that it has signed a five-year bank loan (maturing in February 2028) including a €800m revolving credit facility.
This new contract also includes a line for off-balance sheet commitments (in particular financial guarantees specific to the French “Vente en Etat de Futur Achèvement” system) of €2.1bn.
This contract supersedes the loan maturing in July 2023. The amounts authorized in the previous contract (€500 million credit facility and €1.8 billion off-balance sheet commitments) have been increased and provided by an extended pool of banks.
Historically committed to a low-carbon city, Nexity has chosen to include environmental impact criteria in this loan agreement, based on the achievement of objectives related to the reduction of the carbon intensity of the Group’s activities (greenhouse gas emissions in scopes 1 and 2 for the Group, scope 3 for real estate development activities, and volume of energy renovation work for the condominium management activities). These commitments stem from the accelerated Climate and Biodiversity strategy approved last year by the General Shareholders’ Meeting. The credit line includes a virtuous obligation to achieve results by providing for a bonus/malus mechanism on the applicable margin depending on the achievement of these objectives, which will be tested annually
The pool of banks comprises Arkéa Banque Entreprises et Institutionnels, Banque Européenne du Crédit Mutuel (BECM), BNP Paribas, Compagnie Européenne de Garantie et Cautions (CEGC), Crédit Agricole CIB, Caisse Régionale de Crédit Agricole Mutuel de Paris et d’Ile de France, La Banque Postale, Natixis, Société Centrale Pour le Financement de l’Immobilier (Socfim) and Société Générale.
Crédit Agricole CIB acted as coordinator and agent for the financing.
Crédit Agricole CIB and Natixis acted as ESG coordinator.
Nexity was advised by Cabinet Fairways and the lenders by De Pardieu Brocas Maffei.
“The renewal of our corporate credit reflects Nexity’s active management of its balance sheet. Against a backdrop of volatile financial markets, the completion of this transaction strengthens the Group’s liquidity and illustrates the confidence and strength of the relationships we have with our historical banking partners for many years. This contract illustrates the ambitious commitments we have made to respond to the climate emergency. With a secure financing outlook for the next five years, we have the capacity to go through the upcoming market adjustment period and to implement our Imagine 2026 strategy.” Nadia BEN SALEM-NICOLAS, Deputy Managing director in charge of finance
NEXITY, LIFE TOGETHER
With more than 8,000 employees and €4.7 billion in revenue in 2022, Nexity is France’s leading global real estate group, with a nationwide presence and business operations in all areas of real estate development and services. Our strategy as a global real estate operator is designed to serve all our clients individuals, companies, institutional investors, and local authorities. Our corporate purpose ‘life together’ expresses our commitment to create for them, sustainable spaces, neighbourhoods, and cities, that make it possible to forge and re-establish links.
Nexity is notably classified for the fourth year in a row, France’s number-one low-carbon project owner by BBCA, is a member of the Bloomberg Gender-Equality Index (GEI), Best Workplaces 2021 and certified Great Place to Work® in September 2022.
Nexity is listed on the SRD, Euronext’s Compartment A and the SBF 120.
Domitille Vielle – Head of Investor relations / +33 (0)6 03 86 05 02 – [email protected]
Géraldine Bop – Deputy head of Investor relations / +33 (0)6 23 15 40 56 – [email protected]
Cyril Rizk – Press relations manager / +33 (0)6 73 49 72 61 / [email protected]
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