MRM secures its funds by refinancing all

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Press release

MRM secures its financial resources by refinancing all of its bank debt

  • New seven years € 82.1 Loan million euros consisting of two tranches:
    • € 75.7 million credit line for early repayment
      of all bank debts of the group
    • Credit facility of € 6.4 million to finance investments

Paris, December 23rd 2021: MRM (Euronext code ISIN FR0000060196), a real estate investment company specializing in retail real estate, announced today that it has a new seven-year loan totaling 82.1 million with new funds to make investments.

In detail, this new mortgage loan, which is secured by the real estate portfolio of MRM, is made up as follows:

  • A credit facility of € 75.7 million that has enabled MRM to repay all of its bank debt early, namely: € 55.1 million due in June 2022, € 15.2 million due in October 2022 and 3, € 7 million due in June 2023;
  • A credit facility of € 6.4 million to finance new investments aimed at utilizing the remaining value creation potential of the portfolio, as well as investments to support the environmental goals set by MRM.

It was taken up with a banking pool that includes Banque Européenne du Crédit Mutuel, LCL and BRED Banque Populaire. Banque Européenne du Crédit Mutuel acted as agent and co-arranger, LCL as co-arranger.

Banque Européenne du Crédit Mutuel, LCL and BRED Banque Populaire were advised on this transaction by the notary Victoires Notaires Associés and the law firm De Pardieu Brocas Maffei.

MRM was advised by the notary Lasaygues et Associés.

Marine Pattin, MRM’s Chief Financial Officer, comments: Refinancing our bank debt due between June 2022 and June 2023 has been one of our top priorities. We are very pleaseed to be able to carry out this refinancing before the end of the year, under satisfactory conditions that reflect the quality of our portfolio, and with new French banking partners who are ready to accompany us in our future development. This new seven year loan greatly improves the visibility of our financial profile. In addition, the credit line specifically intended to finance our investments gives us additional flexibility in order to make our properties even more attractive, especially through the introduction of our CSR policy.

calendar

The sales for the fourth quarter and the full year results for 2021 will be due on February 24, 2022 after the market closes.

About MRM

MRM is a publicly traded real estate investment company that owns and manages a portfolio of retail properties in several regions of France. The majority shareholder is SCOR SE, which holds 59.9% of the share capital. MRM is listed in Compartment C of Euronext Paris (ISIN: FR0000060196 – Bloomberg code: MRM: FP – Reuters code: MRM.PA). On January 1, 2008, MRM opted for SIIC status.

For more informations

MRM
5, avenue Kléber
75795 Paris Cedex 16
France
T +33 (0) 1 58 44 70 00

[email protected]

Isabelle Laurent, OPRG finance
T +33 (0) 1 53 32 61 51
M +33 (0) 6 42 37 54 17
[email protected]

Website: www.mrminvest.com


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