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Tour Eiffel (Société de la) — Capital/Financing Update 2012
Jul 10, 2012
1712_iss_2012-07-10_09de6106-bfe8-41a5-bdea-ecaa24c2e706.pdf
Capital/Financing Update
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Société de la Tour Eiffel 10 July 2012
Long term refinancing of sole 2012 debt maturity
The overhaul and extension of the company's bank financing continues with the announcement of an early reimbursement of its single corporate loan maturing in 2012 (30 September).
The refinancing of this Natixis facility dating from March 2010 which initially amounted to € 35M was made up, on the one hand, of a € 8M amortizable loan in two respective tranches of 10 and 15 years and, on the other hand, of € 3.4M from the company's own resources.
The overall cost of this new mortgage-backed debt is significantly lower than its predecessor, taking into account hedging arrangements. This is the first finance negotiated by the Group with Crédit Agricole Mutuel de Paris et d'Ile-de-France (CA IDF) and illustrates the intent to break up and extend debt with identified alternative sources in the wake of the recently announced 7-year mortgage refinancing (€ 117M) completed with a German bank.
Agenda 26 July: Half-year 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 business space capable of attracting a wide range of tenants in both established and emerging locations. The company's portfolio stands close to 1 billion Euros of 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
Press contact www.societetoureiffel.com Communication Jean-Philippe MOCCI Jérôme DESCAMPS Capmot Deputy Managing Director (Finance) Tel:+33 (0)1 71 16 19 13/+33 (0)6 71 91 18 83 Tel: +33 (0)1 53 43 07 06 [email protected] [email protected]