Clearwater International advises Sogaris on a €217m drawable structured facility

Sogaris, the urban logisitics leader for the Greater Paris area, has secured a €217m drawable structured facility from a pool of five leading French banks (La Banque Postale, Caisse d’Epargne Ile-de-France, Arkea Banque Entreprises et Institutionnels, Bpifrance, and Société Générale).

This financing is co-arranged by La Banque Postale and the Caisse d’Epargne Ile-de-France and aims to support Sogaris’ €300m investment plan over the next 3 years. Structured into two tranches, secured by existing assets and future development projects, this new financing will provide flexibility and reactivity to Sogaris. It will also enable the group to anticipate calls for tenders related to logistic centres in the Greater Paris region.

The first facility draw-down occurred at closing for the acquisition of Franprix’ logistic platform of c. 84,000sqm in Chennevières from Casino. This acquisition increases Sogaris’ asset value to c. €685m.

Clearwater Advisers