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Klépierre: KLÉPIERRE SIGNS A €1.4BN SUSTAINABILITY-LINKED REVOLVING CREDIT FACILITY

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PRESS RELEASEKLÉPIERRE SIGNS A €1.4BN SUSTAINABILITY-LINKED REVOLVING CREDIT FACILITYParis — December 17, 2020Klépierre, the European leader in shopping malls, is today announcing the successful closing of a syndicated revolving credit facility for a total amount of €1,385 million. This five-year facility (incorporating two options to extend the maturity by an additional year each) replaces the former facilities maturing in 2021 and 2022. The Group’s liquidity position now stands at €3.1 billion (€2.3 billion for the RCF, €0.4 billion in cash and €0.4 billion in bank overdrafts), with an average maturity of 4.9 years, fully covering Klépierre’s refinancing needs through March 2024.This sustainability-linked revolving credit facility was also designed to support the Group’s ambition to achieve carbon neutrality for its portfolio by 2030. It includes especially a mechanism whereby when the annual carbon intensity reduction objectives for the Group’s malls have been met, the margin on the credit is reduced, with the corresponding amount being reinvested by Klépierre in installing or upgrading building management systems(1) in its malls.The bank syndicate encompasses 19 banks from eight different countries. Barclays acted as documentation agent, Crédit Agricole CIB, Santander and Natixis as sustainability coordinators, Deutsche Bank and Société Générale as syndication coordinators and BNP Paribas as credit agent.

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