De Pardieu Brocas Maffei has advised Société Tour Eiffel, a leading player in office property in Greater Paris and regional cities in France with high potential, on the issuance of €180m in perpetual subordinated bonds with a coupon of 4.5% and a first possibility of repayment in 5 years.
The financing arrangement will serve to carry out the property company’s growth plan while strengthening its financial structure.
The issue has been fully taken up among the Group’s main shareholders including: the SMA group, Suravenir and Mutuelle Générale, and once again demonstrates the confidence of its long-standing shareholder in the property company.
This new financing instrument allows Société de la Tour Eiffel to strengthen its equity in order to pursue its growth plan (developments, redevelopment of the property portfolio and land reserves, targeted acquisitions of secure assets) with an optimised carrying cost, and provides the property company with additional financial leeway.
Société Générale acted as arranger for the transaction.