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Societe de la Tour Eiffel : Major Refinancing of a EUR 120M Credit Line

June 26, 2012 - PARIS


Major refinancing of a EUR 120M credit line

Société de la Tour Eiffel (STE) has concluded with a German bankthe refinancingof the EUR 116.9M credit line which was put into place by RBS at the outsetof STEas a SIIC in 2004. This new, mortgage-backed finance comprises eightindividualamortizable loans to SPVs for a 7-year term at a competitive rate. Theoverallcost of funds is less than the previous loan, whereas the LTV of 52%reflectsthe deleveraging achievements of the group.

The subject portfolio comprises eight properties, five being in theParisregion, with three others located in Caen, Sochaux and Grenoble. All arerecentor renovated, offering a total floor area of 116,000 m². They arefully leased,in the main to large quoted (CAC 40) companies and an administration.

« As intimated at the outset of the year, we have completedrefinancing one ofour principal credit lines a year prior to its maturity on a satisfactorybasis,underlining the credibility of our business model and the qualityof theportfolio. We anticipate that this refinancing will prove a positiveprecursorto the successful outcome of current negotiations in relation to thesecondmajor loan maturity due in 2013. We have various active discussions inhandaimed at the deleveraging of the balance sheet », states CompanyChairman, MarkInch, who duly praised the contribution of the company's asset managementteamled by Jérôme Descamps and Frédéric Maman.

Final 2011 dividend by scrip issue

The company also announces that it recently increased its capital by EUR6M as aresult of the scrip issue corresponding to 50% of shareholders takingtheirfinal 2011 dividend in shares. The corresponding creation of newshares was183,416, increasing the total number to 5,919,688.

Agenda è 26 July: Half-year results

About Société de la Tour Eiffel

A « SIIC » quoted on the Euronext Paris Exchange, the companypursues a strategyfocused on the ownership and the development of quality office andbusinessspace capable of attracting a wide range of tenants in bothestablished andemerging locations. The company's portfolio stands close to 1 billionEuros ofassets spread evenly between the Paris area and the regions.Société de la Tour Eiffel is listed on NYSE Euronext Paris(compartment B) -ISIN code: 0000036816 - Reuters : TEIF.PA - Bloomberg EIFF.FP

Major refinancing of a EUR 120M credit line:

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Source: Société de la Tour Eiffel via Thomson Reuters ONE[HUG#1622235]

Press contact
Jean-Philippe Mocci
Tel:+33 (0)1 71 16 19 13/+33 (0)6
71 91 18 83
Email Contact

Jerome Descamps
Deputy Managing Director (Finance)
Tel: +33 (0)1 53 43 07 06
Email Contact


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