French-listed retail park specialist Frey has secured €400 mln in financing to improve its financial health and support its expansion plans.
The financing package extends the repayment period for 40% of Frey's existing debt. These new loans mature in five years with the option for two one-year extensions. This significantly improves Frey's financial flexibility by pushing major debt repayments beyond 2027, with current resources covering any obligations before then.
In addition to extending debt maturity, the financing provides Frey with a €120 mln credit line they can access for future acquisitions. This increases their total available liquidity (cash and unused credit) to over €280 mln.
The financing terms are comparable to those secured in the past two years, ensuring a competitive overall debt cost for Frey.
Frey was supported by banking partners Crédit Mutuel Arkéa, Banque Postale, Banque Européenne du Crédit Mutuel (BECM), BNP Paribas, Group BPCE, Crédit Agricole Corporate Investment Bank (CACIB), Crédit Agricole Île-de-France (CADIF), CIC Est, LCL, Natixis, and Société Générale.
Frey incorporated three key ESG performance indicators into its €400 mln financing agreements. These indicators focus on environmental building certification, mobility, and greenhouse gas emissions.
