HFW advises FM Batilogistic in the negotiation of a €222 million green loan, with an interest rate based on environmental and social criteria.
Global, sector-focused law firm HFW has advised FM Batilogistic, FM Logistic's sister company specialised in real estate logistics, in the negotiation and signing of a nine-year green loan of € 222 million.
HFW's Paris Finance team, led by Jean-Marc Zampa, accompanied FM Batilogistic in the negotiations with a consortium of nine banks (ING, Banque Européenne du Crédit Mutuel, CIC Est, Groupe Crédit Agricole (LCL, Crédit Agricole Lorraine, Crédit Agricole Alsace Vosges, Crédit Agricole Brie Picardie), Société Générale et BRED Banque Populaire). The loan's interest rate will vary based on three ambitious environmental and social criteria:
- The proportion of LEED or HQE certified buildings in Batilogistic's real estate portfolio. LEED and HQE are sustainability certificates for buildings.
- The reduction of scope 1 and 2 greenhouse gas emissions from warehouses owned by Batilogistic and operated by FM Logistic in France.
- FM Logistic's position in the EcoVadis rating, which assesses companies on sustainability criteria. The next rating is due in the first half of 2021.
Meeting the criteria set for reduced interest rates will require close cooperation between FM Batilogistic and FM Logistic. The former designs and develops warehouses. The latter operates these facilities on behalf of its customers.
FM Batilogistic and FM Logistic are among the first logistics companies to link financing costs with their environmental and social performance.
HFW is proud to participate in the ecological transition of the FM Group, and to accompany clients in their sustainable energy transition projects.
HFW's team comprised Partner Jean-Marc Zampa, Senior Associate Olivier Challine and Associate Anisha Franklin. CBRE Capital Advisors and Etude Reinert & Krummenacker also advised Batilogistic.
The lenders were advised by De Pardieu Brocas Maffei and Etude Lasaygues.
HFW is a leading global law firm in the aerospace, commodities, construction, energy and resources, insurance, and shipping sectors. The firm has more than 600 lawyers, including 185 partners, based in offices across the Americas, Europe, the Middle East and Asia-Pacific. HFW prides itself on its deep industry expertise and its entrepreneurial, creative and collaborative culture.
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