Listed French property firm Société de la Tour Eiffel has secured a new €90 mln credit line, the terms of which are linked to ESG (Environment, Social and Governance) performance criteria.
The 7-year loan (5 years with two one-year extensions) was provided by the Caisse Régionale de Crédit Agricole Mutuel de Paris et d’Ile-de-France.
This credit facility replaces an existing loan that is reaching maturity.
'Signed amid a challenging environment for our industry, this deal highlights the strength of our relations with our banking partners and their commitment to supporting us as we deploy our roadmap. This first sustainable linked loan will also align our financial policy with our ESG pledges, a historical pillar in the Company’s strategy,' said Christel Zordan, Chief Executive Officer of Société de la Tour Eiffel.
