New financing signed for euro 165 million




• Euro 120,0 million re-financing and Euro 45.0 million new line
• Debt maturity increased to 3.5 years
• Cost of debt equal to c. 2.1%

Milan, December 30th, 2021COIMA RES S.p.A. SIIQ (“COIMA RES” or the “Company”) announces that it has agreed to enter into a new financing agreement with Crédit Agricole Corporate and Investment Bank (Agent), BNP Paribas, ING Bank and UniCredit for Euro 165.0 million for the financing of the real estate portfolio (for Euro 120.0 million) and the granting of a new line, for Euro 45.0 million, to support the capex plans relating to the Monterosa, Tocqueville and Deruta properties. The new loan is secured by the 100% directly and indirectly held properties and has a maturity of 5 years and an "all in" cost of c. 2.1%.

The financing was structured, with the support of ING Bank as green advisor, considering the alignment with the European taxonomy of environmentally sustainable economic activities on the basis of what was approved by the European Commission on April 21st, 2021, formally adopted on June 4th, 2021. The alignment requires, for existing assets built before December 31st, 2020 (Pavilion), the existence of an Energy Performance Certificate equal to A or that the building f alls within the top 15% of the regional building stock expressed as operational Primary Energy Demand and, for those undergoing renovation (Monterosa and Tocqueville), a reduction in Primary Energy Demand of at least 30%. The sustainability targets set have allowed for financing conditions that are significantly below current market levels, with a further reduction in the cost of financing upon substantial completion of the redevelopment and re-letting activities. As of today, the percentage of buildings already Leed certified, including buildings held through other vehicles, is 65% and will rise to 90% upon completion of the redevelopment projects for the Monterosa, Tocqueville and Deruta buildings.

This is the first loan finalised by COIMA RES that incorporates as a distinguishing factor the alignment with the European taxonomy of sustainable economic activities and one of the first in Italy, and this is made possible by the high quality of the design and sustainability of the Company's present and future portfolio.

Including the above changes and taking into account the indebtedness in the vehicles, the weighted average maturity of COIMA RES' consolidated debt will be c. 3.5 years, compare d to c. 1.8 years before the transaction. The weighted average cost of "all in" debt will be c. 2.1%.

Manfredi Catella, Founder and CEO of COIMA RES, commented: “For COIMA RES, having finalised one of the first financings in Italy aligned with the European environmental taxonomy confirms the high quality of our properties, the consolidated collaboration with leading national and international banking institutions and the resilience of the Milanese tertiary real estate market where our company's portfolio is concentrated with over 90% of assets”.


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