De Pardieu Brocas Maffei has advised FREY, a real estate company specialising in major urban renewal operations, on the signature of a €70 million five-year solidarity-based revolving credit line (with two options to extend it for an additional year) with Crédit Agricole CIB, LCL & Caisse Régionale de Crédit Agricole Mutuel du Languedoc.
This operation will both strengthen the Group’s liquidity and provide an additional source of financing for players in the solidarity economy in line with the Group’s Corporate Social Responsibility commitments.
This facility includes a mechanism whereby the three banks in the pool waive part of their remuneration and FREY makes a contribution of an equivalent amount to a solidarity organisation, which may change each year. The total amount financed in equal parts by FREY and the banking pool could amount to up to €140,000 over the entire duration of the credit line (five years excluding options to extend).
FREY has initially chosen to support the charitable organisation of Chef Thierry Marx, CUISINE MODE D’EMPLOI(S) in its solidarity projects. These projects initiatee the reintegration, through the kitchen and catering professions, of people in a difficult financial and social situation, who have hitherto been far from employment.
Crédit Agricole CIB and LCL have acted as co-arrangers in this operation, and also as lenders, alongside the Caisse Régionale de Crédit Agricole Mutuel du Languedoc.