SFL (Paris:FLY) and Predica (groupe Crédit Agricole Assurances) have obtained a €206 million five-year mortgage loan for their joint subsidiary, Parholding, owner of the 82/90 Champs-Elysées and 104/110 boulevard Haussmann properties.
The loan replaces an earlier mortgage loan that was due to mature in December 2012.
Natixis, Deka Bank and Deutsche Hypo acted as co-arrangers for the transaction.
With an exceptional portfolio of properties valued at €3.4 billion including transfer costs, essentially located in the Paris Central Business District, SFL is a preferred vehicle for investors wishing to invest in the Paris office and retail property market. As the leading player in this market, the Group is firmly focused on pro-actively managing high-quality property assets. SFL has elected to be taxed as an SIIC since 2003.
Euronext Paris Compartment A – Euronext Paris ISIN FR0000033409 – Bloomberg: FLY FP – Reuters: FLYP PA
S&P RATING: BBB- /A-3 Stable outlook
Number one for bancassurance in Europe and number two for life insurance in France based on the amount of premiums collected, Crédit Agricole Assurances handles all the Group’s French and foreign insurance activities. It comprises Predica, a personal insurer, Pacifica, specialised in non-life insurance, Caci for creditor insurance, the various international subsidiaries and Caagis for IT management and services, as well as Spirica and LifeSide Patrimoine, focused on life insurance for wealth management.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50421770&lang=en