FREY (EPA:FREY) - FREY improves the terms of its syndicated credit facility

Transparency directive : regulatory news

12/10/2018 08:00

PRESS RELEASE

Bezannes, 12 October 2018 - 8.00 am

FREY improves the terms of its syndicated credit facility

FREY S.A. (ISIN: FR0010588079 - FREY), a property investment company (French
REIT) specialising in open-air shopping centres, signed with its banking
partners, an extension of the existing syndicated credit facility from EUR300m
to EUR350m. Meanwhile, the Group improves the financial conditions of this
credit facility and extends its maturity by one year to September 2024 (the
Group still has an option to extend the facility by one year).

For the record, the Group signed in June 2017 a EUR300m syndicated loan, with
an initial duration of five years, with two optional one-year extensions, on
favourable financial terms to refinance part of its debt and to finance its
expansion programme. In February 2018, FREY obtained unanimous agreement from
its banking pool for the first one-year extension.

This credit bears interest at the 3-month Euribor plus a margin based on a
pricing grid and is subject to a certain number of usual financial covenants
(LTV ratio, ICR ratio, secured debt ratio).

BNP Paribas, CA CIB and LCL acted as co-arrangers, and also as lenders
alongside Banque Postale, Crédit Foncier, CIC-Est, Crédit Agricole Ile-de
France and BECM.

FREY was advised by the law firm De Pardieu Brocas Maffei and the lenders by
Gide Loyrette Nouel AARPI.

About FREY
FREY is a property investment company (French REIT) specialising in major urban
renewal operations and the development and operation of open-air shopping
centres. Its Shopping Promenade(r) offer a complete offer combining shopping
and leisure, to create an "enhanced experience" for all the family. Through its
unique expertise, FREY has become a recognised French leader in this resilient
asset class, in the deep market (creation, extension, renovation) and in
perfect harmony with the expectations of consumers, retailers and communities.
FREY is listed on compartment B of Euronext Paris. ISIN: FR0010588079 -
Mnemo: FREY

CONTACTS:
Antoine Frey - CEO
Emmanuel La Fonta - Chief Financial Officer & Human Resources
Mathieu Mollière - Director of Communication, Marketing and Innovation -
Tel.: 03 51 00 50 50
Agnès Villeret - Investor relations and financial press
KOMODO - agnes.villeret@agence-komodo.com - Tel.: 06 83 28 04 15

French limited company (société anonyme) with share capital of
EUR47,104,162.50 - 1, rue René Cassin - 51430 Bezannes - Reims Trade &
Companies Register no. 398 248 591
For more information, see our website: frey.fr

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