AEW Europe has signed, on behalf of its French core retail vehicle Fondis, a EUR248m financing agreement with BNP Paribas and Societe Generale.
Fondis owns a portfolio with current value of approximately EUR400m.
This agreement enables the refinancing of the existing borrowings of Fondis. It also provides a new credit line for which the drawdown period is three years. Fondis’ investment capacity is currently EUR250m.
Stéphane Sebban, portfolio manager says: “We are delighted that the existing lenders continue to support Fondis in its new investment phase that will enable the Fondis assets to increase to over EUR600m.”
AEW Europe was advised by Baker & McKenzie. BNP Paribas and Societe Generale were advised by De Pardieu Brocas Maffei.