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

Press release

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

• New seven-year €82.1 million loan made up of two tranches:

  • A €75.7 million credit facility allowing for early repayment
    of all the Group’s bank debt

  • A €6.4 million credit facility to finance investments
    
    

Paris, 23 December 2021: MRM (Euronext code ISIN FR0000060196), a real estate investment company specialising in retail property, today announces that it has taken out a new seven-year loan of a total of €82.1 million enabling the early repayment of all its current bank debt and giving it new financial resources to make investments.

In detail, this new mortgage loan secured against MRM’s real estate portfolio breaks down as follows:

• A €75.7 million credit facility that has enabled MRM to repay all 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 €6.4 million credit facility to finance new investments aiming to capitalise on the portfolio’s remaining potential for value creation, as well as investments to support the environmental targets set by MRM.

It was taken out with a pool of banks comprising Banque Européenne du Crédit Mutuel, LCL and BRED Banque Populaire. Banque Européenne du Crédit Mutuel acted as agent and co-arranger, LCL acted as co-arranger.

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

MRM was advised by notary Lasaygues et Associés.

MRM’s Chief Financial Officer Marine Pattin comments: “Refinancing our bank debt falling due between June 2022 and June 2023 was one of our main priorities. We are very pleased to have been able to carry out this refinancing before the end of the year, under satisfactory conditions reflecting the quality of our portfolio, and with new French banking partners prepared to accompany us in our future development. This new seven-year loan significantly improves the visibility of our financial profile. Furthermore, the credit facility specifically intended to finance our investments gives us additional flexibility in order to continue to make our properties more attractive, in particular by rolling out our CSR policy.”

Calendar

Revenues for the fourth quarter and 2021 annual results are due on 24 February 2022 after market close.

About MRM

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

For more information

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

Isabelle Laurent, OPRG Financial T +33 (0)1 53 32 61 51 M +33 (0)6 42 37 54 17 isabelle.laurent@oprgfinancial.fr

Website: www.mrminvest.com

Attachment

• MRM CP Refinancement VA