NEXITY ENTERS INTO NEW €2.3 BILLION CORPORATE CREDIT FACILITY
Paris, 5 September 2018
Nexity is pleased to announce that it has entered into a €2.3 billion syndicated corporate credit facility, comprised of a €500 million cash credit line and €1.8 billion in guarantee commitments (engagements par signature, notably including performance bonds and bank guarantees). This five-year credit facility, which expires in July 2023, was signed with a syndicate of seven financial institutions: Banque Européenne du Crédit Mutuel, CACIB, Caisse Régionale de Crédit Agricole Mutuel de Paris et d'Ile de France, Arkéa Banque Entreprises et Institutionnels, Natixis (with its subsidiary CEGC), Socfim (BPCE), and Société Générale.
This new credit facility replaces the existing facility entered into by the Group, which was due to expire in December 2018. The same financial institutions were already parties to the previous agreement and are thus demonstrating their continued confidence in Nexity. The amounts authorised under the new facility represent significant increases over those of the earlier one (which was comprised of a €300 million cash credit line and €840 million in guarantee commitments) in order to support Nexity's strategic growth plans.
This credit facility will help provide the cash necessary to meet Nexity's general financing needs for the Group's development. The guarantee commitments will enable the Group to expand its development programmes (in both residential and commercial real estate) as well as its urban planning activities.
Under the terms of this facility, the Group must maintain certain financial ratios (Net debt / Equity, Net debt / EBITDA, EBITDA / Cost of financing), which were adapted to neutralise the impact of IFRS 16 Leases on the EBITDA, net debt and cost of financing aggregates.
Nexity was advised by Gide Loyrette Nouel and the creditors were advised by De Pardieu Brocas Maffei. CACIB acted as coordinator and financing agent.
AT NEXITY, WE AIM TO SERVE ALL OUR CLIENTS AS THEIR REAL ESTATE NEEDS EVOLVE
Nexity offers the widest range of advice and expertise, products, services and solutions for individuals, companies and local authorities, so as to best meet the needs of our clients and respond to their concerns.
Our business lines - real estate brokerage, management, design, development, planning, advisory and related services - are now optimally organised to serve and support our clients. As the benchmark operator in our sector, we are resolutely committed to all of our clients, but also to the environment and society as a whole.
Nexity is listed on the SRD and on Euronext's Compartment A
Nexity is included in the following indices: SBF 80, SBF 120, CAC Mid 60, CAC Mid & Small and CAC All Tradable
Ticker symbol: NXI - Reuters: NXI.PA - Bloomberg: NXIFP
CONTACT
Domitille Vielle - Head of Investor Relations / +33 (0)1 85 55 19 34 - investorrelations@nexity.fr
Blandine Castarède - Director of Communications and Brand Strategy / + 33 (0)1 85 55 15 52 - bcastarede@nexity.fr
