Key Takeaways
- • Clifford Chance advised the lenders on CBRE Investment Management's new €275 million finance facility for its Pan Europe Logistics strategy, announced July 6, 2023.
- • The facility is provided by a syndicate of three banks: ABN AMRO, Crédit Agricole CIB and ING Bank.
- • The financing will refinance maturing debt and fund new acquisitions, giving the strategy capacity to grow and access multiple debt capital sources.
- • The facility is structured to become Sustainability-Linked during 2023.
Summary
International law firm Clifford Chance has advised the lenders in relation to a new €275 million finance facility for the Pan Europe logistics strategy of CBRE Investment Management, according to the firm's announcement dated 6 July 2023. The facility is being provided by a syndicate of three banks: ABN AMRO, Crédit Agricole CIB and ING Bank.
The proceeds will be used to refinance maturing debt and to finance new acquisitions. According to Clifford Chance, the transaction will allow the strategy to grow further and position itself to access multiple debt capital sources, rather than relying on a single funding channel.
The facility is structured to become Sustainability-Linked in the course of 2023, meaning its terms are expected to be tied to sustainability performance targets as the transition proceeds.
The Clifford Chance team was led by Jelle Hofland and Amin Tamaddoni. Jackie Jones, Menno Postma and John Moran advised from Amsterdam, while Maxime Budzin, Charlotte Reynders, Alexandre Sensi, Donald Sefer and Kenza Yaici advised from Luxembourg.
The proceeds will be used to refinance maturing debt and to finance new acquisitions. According to Clifford Chance, the transaction will allow the strategy to grow further and position itself to access multiple debt capital sources, rather than relying on a single funding channel.
The facility is structured to become Sustainability-Linked in the course of 2023, meaning its terms are expected to be tied to sustainability performance targets as the transition proceeds.
The Clifford Chance team was led by Jelle Hofland and Amin Tamaddoni. Jackie Jones, Menno Postma and John Moran advised from Amsterdam, while Maxime Budzin, Charlotte Reynders, Alexandre Sensi, Donald Sefer and Kenza Yaici advised from Luxembourg.
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