ANF Immobilier Has the Resources to Implement Its Strategy - €400M in Financing from Four Partner Banks: Natixis, BECM, BNP...
July 07 2014 - 11:45AM
Business Wire
- The new financing structure is a
seven-year flexible mortgage
- €340M used to refinance the three
main lines of credit
- €60M available to meet development
needs
Regulatory News :
ANF Immobilier (Paris:ANF) has signed a historic financing
agreement with four major French banks: Natixis (agent), Banque
Européenne du Crédit Mutuel, BNP Paribas and Crédit Agricole CIB.
The new loan is a seven-year mortgage for €400M and is in line with
the growth strategy set in early 2013. This new financial
structure, based on a mortgage mechanism, has attractive financial
characteristics and will provide real flexibility in procuring
future financing.
In addition to the existing lines of credit being refinanced for
a total of €340M, an additional €60M was added, which is necessary
for ANF Immobilier's medium-term development. This transaction
means that the real estate investment company has the resources to
more smoothly implement its strategy, which consists of a 110%
commitment to a €240M plan for new acquisitions, developing
existing land reserves for €170M and disposing of its non-core
assets for €238M.
The estimated cost of debt in 2014 is 3.5%, where 80% of which
was hedged by financial instruments. The loan-to-value ratio of
nearly 40% remains very conservative with regard to its
obligations. ANF Immobilier remains among the least leveraged real
estate investment companies in the market, boosting its resiliency
when facing a rapidly changing economic environment.
Guidance:
Guidance for this financing transaction was provided by the
notary offices of Wargny Katz and Ginisty and by the law firms of
DS Avocats and Shearman & Sterling.
x x
x
2014 financial calendar 2014 half-year results
21 July 2014 (before the market opens) Presentation of 2014
half-year results 21 July 2014 (10.30a.m. Paris time + conference
call and webcast) 2014 3rd quarter revenues 13 November 2014
(before the market opens)
About ANF ImmobilierANF Immobilier (ISIN
FR0000063091) owns and manages real estate assets worth nearly €1
billion in the city centres of Marseille, Lyon and Bordeaux. It is
a leading real estate company with SIIC status focusing on
residential and tertiary rental property. Listed on Eurolist B of
Euronext Paris and included in the EPRA real estate benchmark
index, ANF Immobilier is part of the Eurazeo
Group.www.anf-immobilier.com
ANF Immobilier:Laurent Milleron, Tel: +33 1 44 15
01 11investorrelations@anf-immobilier.comorPress
contact:Perrine Piat, Tel: +33 1 58 47 94
66perrine.piat@havasww.com
Abercrombie and Fitch (NYSE:ANF)
Historical Stock Chart
From Aug 2024 to Sep 2024
Abercrombie and Fitch (NYSE:ANF)
Historical Stock Chart
From Sep 2023 to Sep 2024