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Nexity secures €2.3B corporate credit facility

Nexity entered into a €2.3 billion syndicated five-year corporate credit facility due July 2023, consisting of a €500 million cash credit line and €1.8 billion in guarantee commitments.

The facility replaces its existing one, which was scheduled to expire in December and comprised a €300 million cash credit line and €840 million in guarantee commitments.

The real estate developer will use amounts drawn under the facility to satisfy general financing needs, while the guarantee commitments will finance its development programs along with its urban planning activities.

Gide Loyrette Nouel advised Nexity, while the creditors were advised by De Pardieu Brocas Maffei. CACIB acted as coordinator and financing agent.

Banque Européenne du Crédit Mutuel, CACIB, Caisse Régionale de Crédit Agricole Mutuel de Paris et d'Ile de France, Arkéa Banque Entreprises et Institutionnels, Natixis, Socfim and Société Générale are the syndicate of lenders.