David Franco (partner), Fanny Roiena and Veronika Zaytseva (associates) advised Nexity on a cash credit line of 800 million euros and a package of signed commitments that appear as off-balance sheet items (in particular financial guarantees for completion specific to the French “Vente en Etat de Futur Achèvement” regime) of 2.1 billion euros.

The banking pool consists of Arkéa Banque Entreprises et Institutionnels, Banque Européenne du Crédit Mutuel (BECM), BNP Paribas, Compagnie Européenne de Garantie et Cautions (CEGC), Crédit Agricole CIB, Caisse Régionale de Crédit Agricole Mutuel de Paris et d’Ile de France, La Banque Postale, Natixis, Société Centrale Pour le Financement de l’Immobilier (Socfim) and Société Générale.

This contract replaces the current contract which expired in July 2023 with an increase in the amounts authorized in the previous contract. Historically committed to a low-carbon city, Nexity has chosen to include in this credit agreement environmental impact criteria based on the achievement of objectives related to the reduction of the carbon intensity of the group’s businesses. The credit line includes a virtuous obligation to achieve results by providing for a bonus/malus mechanism on the applicable margin depending on the achievement of these objectives, which will be tested annually.