FREY (EPA:FREY) - FREY signs a €70 million solidarity-based revolving credit line with Crédit Agricole Group and supports the Cuisine mode d'emploi(s) organisation

Transparency directive : regulatory news

12/11/2020 08:30

PRESS RELEASE

Bezannes, 12 November 2020 - 8.30 AM

    FREY signs a EUR70 million solidarity-based revolving credit line with
Crédit Agricole Group and supports the CUISINE MODE D'EMPLOI(S) organisation

FREY announces today the signing of a EUR70 million five-year solidarity-based
revolving credit line (with two options to extend it for an additional year)
with Crédit Agricole CIB, LCL & Caisse Régionale de Crédit Agricole Mutuel
du Languedoc.

This credit facility bears interest at the Euribor 3-month rate plus an indexed
margin and has the usual financial covenants for this type of financing
(notably Loan To Value ratio, ICR ratio and pledged debt ratio).

This operation will both strengthen the Group's liquidity (which has undrawn
secured credit lines and cash for a total amount of EUR248.3 million as at 30
June 2020) and provide an additional source of financing for players in the
solidarity economy in line with the Group's Corporate Social Responsibility
commitments.

This facility includes a mechanism whereby the three banks in the pool waive
part of their remuneration and FREY makes a contribution of an equivalent
amount to a solidarity organisation, which may change each  year. The total
amount financed in equal parts by FREY and the banking pool could amount to up
to EUR140,000 over the entire duration of the credit line (five years
excluding options to extend).

FREY has initially chosen to support the charitable organisation of Chef
Thierry Marx, CUISINE MODE D'EMPLOI(S) in its solidarity projects. These
projects initiatee the reintegration, through the kitchen and catering
professions, of people in a difficult financial and social situation, who have
hitherto been far from employment. This commitment, which has a positive social
impact, echoes other initiatives undertaken by FREY to promote access to the
labour world during many years.

Crédit Agricole CIB and LCL have acted as co-arrangers in this operation, and
also as lenders, alongside the Caisse Régionale de Crédit Agricole Mutuel du
Languedoc.
FREY was advised by the firm De Pardieu Brocas Maffei and the lenders by Gide
Loyrette Nouel AARPI.

About FREY

As a planner, developer, investor and asset manager, FREY is a real estate
company specialising in major urban renewal operations as well as the
development and operation of open-air shopping centres. Its Shopping
Promenades(r) represent a comprehensive offer combining shopping and leisure,
to create an "enhanced experience"  for the whole family. Through its unique
expertise, FREY has become a recognised French leader in this resilient asset
class, in the deep market (creation, extension, renovation) and in perfect
harmony with the expectations of consumers, retailers and local authorities.
Another key pillar of FREY's know-how is mixed-use urban projects, which it  is
developing through its dedicated subsidiary CITIZERS.
Frey is listed on compartment B of Euronext Paris. ISIN: FR0010588079 - Mnemo:
FREY.

CONTACTS:
Sébastien Eymard - Chief Executive Officer - Finance & Strategy
Emmanuel La Fonta - Director-Finance & Human Resources
Mathieu Mollière - Director of Communications, Marketing and Innovation
Tel.: + 33 (0)3 51 00 50 50

Agnès Villeret - Investor relations and financial press
KOMODO - agnes.villeret@agence-komodo.com - Tel.: + 33 (0)6 83 28 04 15

About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)
Crédit Agricole CIB is the corporate and investment banking arm of Credit
Agricole Group, the 12th largest banking group worldwide in terms of tier 1
capital (The Banker, July 2020). Nearly 8,400 employees across Europe, the
Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients,
meeting their financial needs throughout the world. Crédit Agricole CIB offers
its large corporate and institutional clients a range of products and services
in capital markets activities, investment banking, structured finance,
commercial banking and international trade. The Bank is a pioneer in the area
of climate finance, and is currently a market leader in this segment with a
complete offer for all its clients. For many years Crédit Agricole CIB has
been committed to sustainable development. The Bank was the first French bank
to sign the Equator Principles in 2003. It has also been a pioneer in Green
Bond markets with the arrangement of public transactions from 2012 for a wide
array of issuers (supranational banks, corporates, local authorities, banks)
and was  one of the co-drafters of Green Bond Principles and of the Social Bond
Guidance. Relying on the expertise of a dedicated sustainable banking team and
on the strong support of all bankers, Crédit Agricole CIB is one of the most
active banks in the Green bonds market. For more information, please visit:
www.ca-cib.fr

CONTACT CRÉDIT AGRICOLE CIB
Maryse Dournes - +33 (0)1 41 89 89 38 / +33 (0)6 14 18 36 21 -
maryse.dournes@ca-cib.com

About LCL
LCL is a subsidiary of Crédit Agricole SA and is one of the largest retail
banks in France. Its ambition is to be the benchmark urban bank for one in
seven city dwellers, one in two small and intermediate-sized enterprises and
one in three SMEs. LCL offers a full range of everyday banking, credits,
personal and property insurance and savings products, throughout metropolitan
France, the French West Indies and French Guiana. LCL offers "continuous
banking" services, combining human and digital banking with 1,700 branches in
the heart of cities, advisors available by telephone until  early evening, its
websites and its "LCL Mes Comptes" app, voted the best banking app 2020*
including the display of all bank accounts. LCL also includes LCL Banque
Privée and LCL Banque des Entreprises et des Institutionnels. LCL has 17,500
employees serving 6 million individual customers, 342,000 professionals and
29,500 corporate and institutional clients.

*Prize awarded by Meilleurebanque.com, for the 3rd consecutive year.

LCL PRESS CONTACTS
Julie Terzulli Tel.: +33 (0)1 42 95 10 61 @ julie.terzulli@lcl.fr
Brigitte Neige Tel.: +33 (0)1 42 95 39 97 @ brigitte.neige@lcl.fr

About Crédit Agricole du Languedoc (www.ca-languedoc.fr)*
Crédit Agricole du Languedoc, a cooperative and mutualist bank, established in
the French departments of Aude, Gard, Hérault and Lozère, is committed to
putting into practice its values of proximity, solidarity and responsibility
which form its DNA. More than 2,700 employees support and advise Crédit
Agricole du Languedoc customers in 170 points of sale (source: Crédit Agricole
Languedoc).
Caisse régionale de Crédit Agricole Mutuel du Languedoc, a cooperative
company with variable capital and staff approved as a credit institution.
Registered office: avenue de Montpelliéret, Maurin 34977 Lattes cedex. 492 826
417 RCS Montpellier. Insurance brokerage company registered with the ORIAS
under the no. 07 025 828.

CREDIT AGRICOLE DU LANGUEDOC PRESS CONTACT
Caroline Leclercq - Head of communication - caroline.leclercq@ca-languedoc.fr
- +33 (0)7 87 42 79 04

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FREY (EPA:FREY) - FREY signs a €70 million solidarity-based revolving credit line with Crédit Agricole Group and supports the Cuisine mode d'emploi(s) organisation

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