PARIS, FRANCE--(Marketwire - Nov 14, 2012) -
Societe de la Tour Eiffel completes
ambitious refinancing program
Société de la Tour Eiffel announces the early refinancing
of its principal
credit line. A new, 5-year, mortgage backed, loan of EUR 287m has been
a banking consortium led by pbb Deutsche Pfandbriefbank (« pbb
national banks, Crédit Foncier de France, Société
Générale and Crédit Agricole
Corporate & Investment Bank . The overall cost equates to about 3.9% p.a.
into account the incidence of new hedging instruments.
This operation marks the satisfactory conclusion of an ambitious
at the year's outset of restructuring and extending of the company's
in concert with leading financial institutions. In addition to the
of the existing pbb facility (EUR 318m as at 30 June 2012), the company
completed in June and July two complimentary mortgage financings of EUR
117m and EUR
8m for respectively 7 and 10/15 years durations.
This year to date the company has reimbursed debt totaling EUR 490m,
previously announced asset sales and new mortgage finance resulting
competitive overall cost of finance ongoing and an average maturity of
« Société de la Tour Eiffel has successfully met its 2012
objective of financial
restructuring in anticipation of contractual maturities. We have
traditional, mortgage backed, finance which continues to offer the
attractive terms whilst considerably broadening our banking relations. This
significant milestone. We intend to continue deleveraging with a
establishing an appropriate position in order to capitalize on
opportunities which the market will encourage in due course»,
Haberkorn, Chief Executive Officer of Société de la Tour Eiffel.
Advisors: JONES DAY and ALLEZ & ASSOCIES.
Agenda è 14 February 2013
market opening): 2012 turnover
è 20 March 2013 (post market
2012 annual results
About Société de la Tour Eiffel
A « SIIC » quoted on the Euronext Paris Exchange, the company
pursues a strategy
focused on the ownership and the development of quality office and
space capable of attracting a wide range of tenants in both
emerging locations. The company's portfolio stands close to 1 billion
assets spread evenly between the Paris area and the regions.
Société de la Tour Eiffel is listed on NYSE Euronext Paris
(compartment B) -
ISIN code: 0000036816 - Reuters : TEIF.PA - Bloomberg EIFF.FP. Member of
Foncières and IEIF Immobilier France indices
Societe de la Tour Eiffel completes ambitious refinancing program:
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Source: Société de la Tour Eiffel via Thomson Reuters ONE