Klepierre closes on €1.39 billion green revolving credit facility

By Cady Vishniac

Detroit, Dec. 17 – Klepierre SA has closed a €1,385,000,000 sustainability-linked revolver with a syndicate of 19 banks, according to a press release.

The new facility, which replaces older facilities expiring in 2021 and 2022, is part of Klepierre’s effort to achieve carbon neutrality for its portfolio by 2030. It includes a mechanism whereby the margin on credit will be reduced as Klepierre meets its annual carbon intensity reduction objective.

The term is five years, with two optional one-year extensions.

Liquidity is now at €3.1 billion.

Barclays was documentation agent on the new revolver. Credit Agricole CIB, Santander and Natixis were the sustainability coordinators, Deutsche Bank and Societe Generale were syndication coordinators and BNP Paribas was the credit agent.

Klepierre is a Paris-based real estate investment trust focused on shopping centers.

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