Clariane and Crédit Agricole Assurances sign a real-estate partnership, in line with the refinancing plan announced on 14 November 2023

Clariane (CLARIA.PA - ISIN FR0010386334), today announces the signature of one real-estate partnership with Crédit Agricole Assurances, for an amount of 140 million euros. This transaction Is part of the refinancing plan announced on 14 November.

This real-estate partnership involves 19 French assets representing a gross asset value of €268 million, excluding transfer duties. Crédit Agricole Assurances has subscribed for 140 million euros worth of bonds issued by the Group's real-estate subsidiary (SPV), which holds these assets and is redeemable in shares of the SPV, with a 7-year maturity and a fixed coupon of 10.5%.

In addition, Clariane and Crédit Agricole Assurances are continuing negotiations on a second real estate partnership, for an amount of 90 million euros involving assets in the United Kingdom. This second partnership is expected to be signed by the end of 2023.

Sophie Boissard, Chief Executive Officer of the Clariane Group, said: "In line with the announcements we made, the signing of this partnership is a first step in the refinancing plan announced on 14 November. This partnership also illustrates the full support for this plan of our main shareholder, Crédit Agricole Assurances, which I would like to thank for its long-term commitment to the Clariane Group and its stakeholders."

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