Gecina has finalized three new responsible loan agreements with BNP Paribas, Natixis and Société Générale for a total of €660m, based on either new bank lines or the transformation of conventional bank lines into responsible credit lines.
Combined with the lines set up in 2018 with ING France and Crédit Agricole Corporate Investment Bank, the volume of responsible loans is now €910m, representing more than 20% of the Group's bank line portfolio.
The financial conditions for these loan agreements will be indexed against the Group's corporate social responsibility (CSR) performance, once again illustrating its strong convictions in terms of CSR, positioning its societal and environmental concerns on an equal level with its financial goals. CSR performance is assessed based on changes in the key indicators used by Gecina, which highlights their relevance for financial firms and the quality of its approach.
"We are moving forward with our policy to continuously improve the Group's financing structure and the integration of CSR within it. With €910m of credit facilities indexed against the Group's sustainable development performance, more than ever we are linking our financial performance and our societal and environmental performance. We are giving ourselves the resources needed to have a global, integrated, long-term approach, benefiting all our stakeholders", confirms Méka Brunel, Gecina's Chief Executive Officer.
These responsible loan agreements are part of the renewal of €1.2bn of new bank credit lines, with an average maturity of nearly seven years, replacing various lines with short residual maturities (2019 and 2020). Since the start of 2019, Gecina has now raised more than €1.7bn, enabling its financial structure to benefit from flexibility and maturity.
Gecina, at the heart of urban life
Gecina owns, manages and develops property holdings worth 19.3 billion euros at end-2018. As a specialist for centrality and uses, the Group is building its business around Europe's leading office portfolio, with nearly 97% located in the Paris Region, and a diversification division with residential assets and student residences. Gecina has put sustainable innovation at the heart of its strategy to create value and anticipate the expectations of around 100,000 customers and end users, thanks to the dedication and expertise of its staff, who are committed to an understated, fluid and inclusive city. To offer its customers high-quality services and support their changing needs, Gecina has launched YouFirst, its relational brand.
Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and Vigeo indices. In line with its commitments to the community, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.
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