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CONTENTS
Press release summary
1
Innovative financing solutions for the Real Estate Industry
2
Financing Real Estate projects in partnership with investors
3
A Unique Worldwide Expertise
4
The Real Estate Market in a better shape
5
Appendix
6
Charlotte McMullen – M Communications
Press Relations
Tel: +44 (0) 20 7920 2349
mcmullen@mcomgroup.com
PRESS RELEASE SUMMARY
Paris, March 20th, 2013
Innovative Real Estate Project Financing Solutions
In a context of a tighter bank credit market, Crédit Agricole CIB is now offering an innovative
range of real estate financing solutions in addition to conventional and structured financings.
The Bank offers market solutions via bond issuances, private placements or mortgage bonds
which are the most innovative products on the market.
Since 2012, Crédit Agricole CIB has financed a number of real estate projects for its clients
in cooperation with investors, primarily insurance companies such as Crédit Agricole
Assurances or debt funds. These joint bank/investor efforts have allowed Crédit Agricole CIB
to extend and develop its support to its clients in the context of a tighter bank credit market.
The Bank provides a unique worldwide real estate market expertise thanks to the strength of
the local strong relationships with its clients, its multi-local platform, its recognised and
extensive knowledge of the market and its capacity of innovation.
Real Estate is the first asset class in the world and offers as well attractive returns and
premiums compared with other asset classes. The international real estate investment
market has been performing quite well despite the current sluggish economic climate, for
several reasons including the arrival of new investors. These investors, such as insurance
companies and sovereign funds, looked at direct or indirect real estate investments as a
diversification of their equity and sovereign debt investments, which are now more volatile
and uncertain.
Press Relations
Tel: +44 (0) 20 7920 2349
1
Innovative Financing Solutions
for the Real Estate Industry
In a context of a tighter bank credit market, Crédit Agricole CIB is now offering an innovative
range of real estate financing solutions in addition to conventional and structured financings.
The Bank offers market solutions via bond issuances, private placements or mortgage bonds
which are the most innovative products on the market. Structured financing solutions can
combine bank facilities with bond financings.
In 2012, Crédit Agricole CIB has participated in six bond issuances for lead French real
estate companies such as Mercialys, Unibail, Gecina, SFL and Foncière des Régions. The
Bank was ranked No. 1 in bond issuances for French real estate companies (Source:
Thomson Reuters, 2012). Crédit Agricole CIB has also provided support on this market to
hotel and casino groups in the United States and in Asia, with twelve issuances, for clients
such as Host Hotels & Resorts, Pinnacle, Ameristar, and MGM Resorts.
More recently, Crédit Agricole CIB has arranged and launched private placements to major
institutional investors. The Bank was in 2012 the sole arranger of a EUR 100 million private
placement for Altarea Cogedim (the first one for this client) with the support of Crédit Agricole
Assurances. Crédit Agricole CIB has also been the associate bookrunner in a EUR 200
million private placement for another major client, Nexity, with J.P. Morgan and Natixis. This
operation was the first private placement done by a French Real Estate developer.
The Bank is preparing the launching of a mortgage bond issuance for another major client.
This innovative transaction will be one of the very first on the French market. It
simultaneously meets the needs and requirements of the borrower, the Bank and, of course,
the investor. This type of product is likely to continue to attract clients and investors in 2013
and during the next years.
The Real Estate and Hotel Group of Crédit Agricole CIB is able to provide a full range of
products thanks to the synergies between the different business lines in France and abroad,
its extensive knowledge of the industry and close proximity clients.
Press Relations
Tel: +44 (0) 20 7920 2349
2
Financing Real Estate Projects
In partnership with Investors
Since 2012, Crédit Agricole CIB has financed a number of real estate projects for its clients
in cooperation with investors, primarily insurance companies such as Crédit Agricole
Assurances or debt funds. These joint bank/investor efforts have allowed Crédit Agricole CIB
to extend and develop its support to its clients in the context of a tighter bank credit market.
Crédit Agricole CIB and Allianz France (Allianz Vie and Allianz IARD) were able to secure a
EUR 200 million mortgage financing to ICADE, one of the largest French real estate
companies, listed on the Paris Stock Exchange. This financing, fully underwritten by Allianz
France, is secured by the Pont de Flandre Business Park in Paris and was signed for a 12
year duration.
Furthermore, Crédit Agricole CIB has arranged, as co-lead arranger and agent, a 7-year
EUR 120 million mortgage financing for a collective property investment scheme ("OPCI")
owned by institutional investors and managed by Amundi RE. This loan has enabled the
OPCI to acquire 44 retail assets fully leased by a leading European retailer. It was
syndicated to a pool of banks and to clients of AXA REIM SGP.
Crédit Agricole CIB has also set up, as sole arranger, global coordinator and agent, a 5-year
EUR 115 million mortgage financing to Blackstone Real Estate. The purpose of this loan was
to partially finance the acquisition of a portfolio of logistic assets located in France. It was
100% syndicated to Bawag and to clients of AXA REIM SGP.
Arranging these loans was possible thanks to the strong relationships between Crédit
Agricole CIB and these investors. In fact, the regulation in place creates new opportunities
for them to diversify their investments on new asset classes. They are looking for less risky
assets than sovereign debt. Real estate, the No. 1 asset class in the world, is an adequate
answer.
This type of financing is consistent with the Bank's distribution strategy. To meet the
regulatory requirements imposed to banks, Crédit Agricole CIB has introduced a new model
which includes credit distribution to reduce the size of its balance sheet. Joint bank/investor
loans consist in distributing part of the loan to investors and keeping a portion in the books of
the bank in order to keep a good balance of interest between all parties. This distribution
strategy has started in 2012 and will continue in 2013. Twenty cooperation agreements have
already been signed between Crédit Agricole CIB and investors. These agreements cover
several geographic regions, including France, EMEA, Asia and the United States.
Press Relations
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3
A Unique Worldwide Expertise
Crédit Agricole CIB provides a unique worldwide real estate market expertise thanks to the
strength of the local strong relationships with its clients, its multi-local platform, its recognised
and extensive knowledge of the market and its capacity of innovation.
Crédit Agricole CIB is one of the leaders on the structured real estate financing market and
has a 25% market share on the real estate development financing market in France.
The Bank enjoys enviable competitive positions in many of its regional markets. The multilocal platform covers nine countries: France, the United Kingdom, Spain, Italy, the United
States, Singapore, Hong-Kong (and China), Japan and Australia.
The dedicated coverage teams have been integrated in the real estate business line, which
allow them to offer the full range of Crédit Agricole CIB and Crédit Agricole group products to
their clients. The organisation of this business line is quite unique and differs from most of its
major competitors with a set up of local teams dedicated to origination and deal execution
and a centralized organization for decision, risk process and strategy.
The product offer is tailored made for Real Estate and Lodging professionals. It is also
designed for companies and institutions seeking to monetise their real estate portfolio and for
all large customers of the Crédit Agricole group. The Bank clients are mainly large property
companies, real estate investment funds, French developers and international real estate,
lodging and gaming groups as well as some large corporations in the retail industry.
The Bank teams propose to their clients tailored made financing solutions and other products
fitting their needs and requirements:
 Advisory mandates (for mergers and acquisitions, development plans etc…),
 Financings (corporate and structured financings ),
 Public, private bond products and mixed products,
 Balance sheet and tax optimisation (securitisation, deconsolidation, etc.),
 Interest rate products (swaps and derivatives).
Press Relations
Tel: +44 (0) 20 7920 2349
4
The Real Estate Market in a better shape
Real Estate is the first asset class in the world and offers as well attractive returns and
premiums compared with other asset classes. The international real estate investment
market has been performing quite well despite the current sluggish economic climate, for
several reasons including the arrival of new investors. These investors, such as insurance
companies and sovereign funds, looked at direct or indirect real estate investments as a
diversification of their equity and sovereign debt investments, which are now more volatile
and uncertain.
As a result, and according to JLL, global direct investment volume have reached USD 443
billion in 2012 vs. USD 434 billion in 2011. Investors still prefer core assets (prime office
buildings fully leased and located in CBDs). Some investors may be interested by some
more secondary assets/locations or value added products but the trend remains limited due
the scarcity of the loan availability on this market segment.
Office buildings are the most important asset class for investors (50% of all transactions),
followed by retail assets (25%), logistic assets (13%) and hotels (7%, due primarily to the low
number of major transactions located in Asia).
The rental market has decreased by 10 to 15% in volumes, due to the slowdown in
relocations and economic uncertainties.
We note a growing gap between the returns and values of prime and secondary assets (in
terms of location, quality and long-term cash flows).
The market is expected to continue to grow in 2013, with an annual estimated transaction
volume of USD 500 billion though a wait-and-see attitude prevails on the rental market. In
Europe, the funding gap is estimated to be around ca USD 100 billion but is expected to
decrease due to the arrival of new non-bank investors, in particular through partnerships
between banks and insurance companies.
Crédit Agricole CIB will continue developing its offer of innovative products on the bond
market, mainly through the issuance of mortgage bonds.
It will also strengthen its primary and secondary distribution channels via new partnerships
with investors.
Press Relations
Tel: +44 (0) 20 7920 2349
5
Appendix
Press Relations
Tel: +44 (0) 20 7920 2349
6
Biographies
LAURENT CHENAIN
Laurent Chenain has been the Global Head of the Real Estate &
Lodging Group since April 2, 2012.
He began his career in 1988 in the International Department of
Indosuez Bank in London. In 1989 he held several positions in the
Project Financing Department in Paris, first as a member of the
Infrastructure team and later on the Energy team, where he contributed to the development
of bank's Oil & Gas franchise; in 1997, he stepped into the franchise’s top management slot.
In 2000, Laurent Chenain joined the Acquisition Financing team at Crédit Agricole Indosuez,
where he took over responsibility for France in 2003.
He later co-managed the Acquisition Financing team for France at Calyon/Crédit Agricole
CIB from 2004 to 2009, and stepped into the top management position in 2010.
Born in 1964, Laurent Chenain has a Master’s degree in Management and holds a
postgraduate ESCP diploma.
JEAN DELAMALLE
Jean Delamalle is Senior Banker and is Head of Property Company
and Real Estate Fund coverage. As such, his role is to promote with
these clients the Real Estate and Hotel Division, to which he reports,
as well as the operations and services that can be provided by the
other Crédit Agricole CIB business lines and the Crédit Agricole Group.
Jean Delamalle began his career in 1976 in the Indosuez Liabilities Department to become,
two years later, Head of Relations in the Major Corporations Division.
From 1985 to 1991, he was successively Director of Crédit de Monaco pour le Commerce
and Executive Vice President of Crédit Foncier de Monaco.
Jean Delamalle returned to Banque Indosuez in 1991 to take over the Real Estate Investors
Division. In 1995, he became Head of Delegation to European Financial Institutions and,
from 1997 to 2003, Senior Banker in the Large Customers Department.
Born in 1951, Jean Delamalle is a graduate of the Institute for Political Studies in Paris. He
also holds a postgraduate degree in Public Law and a diploma from the Institute of Higher
International Studies.
Press Relations
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JEAN-PHILIPPE GUILLERAULT
Jean-Philippe Guillerault has been Head of International Real Estate
Financing in the Real Estate & Lodging Group since 2008 and coordinates
all the business line's operating units; he is also a permanent member of
the business line's Credit Committee and chairs the Early Bird meeting.
He has also been a member of the Board of Directors of Crédit Agricole
Australia since 1996.
Jean-Philippe Guillerault began his career in 1981 with Banque Indosuez, where he held
several positions in the Risk Department before leaving for New York to become the bank's
Chief Credit Officer from 1989 to 1992.
Returning to Paris, he joined the Real Estate Group, where he was appointed assistant head
of international operations and, when the top position was vacated, stepped in and took over
all duties.
Following the merger of Crédit Agricole Indosuez and Crédit Lyonnais CIB, he became CoHead and later Head of international coordination and risk for the business line.
Born in 1954, Jean-Philippe Guillerault is a graduate of the Institute of Political Studies in
Paris and holds a Masters in Law and a diploma issued by the British Chamber of
Commerce.
THIERRY LEFEVRE
Thierry Lefèvre is Managing Director and Head of Structured Real
Estate Financing in the Real Estate and Lodging Group, where he has
been a member of the Executive Board since 2003. In addition, he is
the Chief Executive Officer of Financière Immobilière Crédit Agricole
CIB (now IMMOFI-CACIB) and a director of several subsidiaries of
Crédit Agricole CIB and Crédit Agricole S.A.
After landing his first job and working in Tunisia for two years (1983-1985) as Economic
Advisor to the Tunisian-French Chamber of Commerce and Industry, he returned to France
to accept a position as a university lecturer (Master’s Degree Programme in Economics at
the University of Paris II). Afterwards, he held several positions at Banque Indosuez and later
at Crédit Agricole Indosuez (the Crédit Agricole Group's Corporate and Investment Bank) in
the area of complex financial arrangements. In this capacity he arranged, with the help of his
teams, several French and European industrial and real estate projects.
From 1993 to 2003, Thierry Lefèvre headed Crédit Agricole Indosuez' consulting and
complex real estate financing businesses.
In 2003 at Calyon, he became Head of the Structured Real Estate Financing business line
serving large corporations, institutions and government agencies. In 2010, he became Head
of Crédit Agricole CIB's entire Structured Real Estate Financing business.
Born in 1958, Thierry Lefèvre is a trained economist (doctorate in Economics); he is the
author of the first book on the private ECU (later, the euro): “L'ECU: Un nouveau
marché” Publisher: Presses Universitaires de France, 1985.
Press Relations
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ABOUT CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK
Crédit Agricole CIB is the Corporate and Investment Banking arm of the Crédit Agricole
Group, the world’s sixth largest bank by total assets (The Banker, July 2012).
Crédit Agricole CIB offers its clients a comprehensive range of products and services in
capital markets, investment banking, structured finance and corporate banking.
The activities are structured around four major divisions:




Client Coverage & International Network and Global Investment Banking,
Structured Finance,
Global Markets Division,
Debt Optimisation & Distribution.
The Bank provides support to clients in large international markets through its network with a
presence in major countries in Europe, America, Asia and the Middle East.
Within the Structured Finance division, the Real Estate and Lodging Group offers a unique
worldwide expertise thanks to its intimate knowledge of these sectors. The offering is geared
to the professionals of the property and hotel sectors. It is also designed for corporates and
institutionals wishing to leverage the value of their property and to other customers of the
Crédit Agricole Group which is very active in all the real estate related businesses.
For more information: www.ca -cib.com
Charline Coué
Relations presse
Tel: +33 1 57 87 34 06
charline.coue@ca-cib.com
The Global Presence of the
Real Estate and Hotel Group
The Real Estate and Hotel Group supports its clients in countries where it maintains a local
team.
The Real Estate and Hotel Group professionals are spread across nine different offices:
Paris, London, Milan, Madrid, Tokyo, Hong Kong (and China), Singapore, Sydney and New
York.
Press Relations
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Major deals of the Real Estate and Hotel Group
From 2009 to 2012
Press Relations
Tel: +44 (0) 20 7920 2349
1
France 2012
France 2012
France 2012
France 2012
France 2012
Real Estate and Hotel Group – France 1/3 - 2012
EUR 650 M
€ 650 M
EUR 750 M
EUR 124,8 M
€ 1,200 M
7Y Bond issue
7Y Bond issue
7Y Bond issue
Capital increase
Structured financing
Crédit Agricole CIB
Joint Bookrunner
Joint Bookrunner
Bookrunner
€ 51.5 M
Structured financing of the
construction of Alpha Park 2
Retail Park
Mandated lead arranger,
Underwriter and Agent
2012
2012
France 2012
France 2012
France 2012
Joint Bookrunner
€ 36 M
€ 32 M
construction of the building
“Bords de Seine” in Bezons
Mandated lead arranger and
Agent
Crédit Agricole Corporate & Investment Bank - February 2013
Structured refinancing of a hotel
in the south of France
Arranger
€ 500 M
5Y Bond issue
Joint Bookrunner
€ 750 M
5Y Convertible Bond
Joint Bookrunner
2
France 2012
France 2012
France 2012
France 2012
2012
Immobilière Européenne des
Mousquetaires
EUR 230 M
EUR 1 550 M
Financing of the acquisition and
restructuring of an office
building
Refinancing of
the Altafinance II debt
Corporate financing for the real
estate company of ITM.E Group
Structured Corporate Financing
Co-Arranger
France 2012
Agent & Arranger
France 2012
France 2012
Arranger
EUR 90 M
Mandated Lead Arranger
& Agent
Agent & Co-Arranger
France 2012
Financing of the acquisition
of 3 clinics
EUR 41.6 M
France 2012
€ 17 M
EUR 163.3 M
EUR 64.9 M
EUR 150 M
EUR 75 M
Refinancing of a portfolio of 48
hotels in France and Belgium
Courtepaille restaurants in
France
General purpose facility
General purpose facility
Arranger & Agent
Arranger, Agent
& Participant
Arranger, Agent
& Participant
Agent, Arranger
& Participant
Arranger & Participant
EUR 46 M
Financing of a bridge facility
€ 115 M
Financing of the acquisition
of a logistic portfolio
EUR 200 M
Structured Mortgage Financing
Arranger
Sole Mandated Lead
Arranger & Agent
3
2012
France 2012
France 2012
2012
EUR 102.36 M
Financing of the acquisition of
44 assets leased to a european
leading retailer
& Agent
€ 200 M
5Y Revolving Credit Facility
Arranger, Agent and
Documentation Agent
€ 308.00 M
Financing of a portfolio of office
assets
MLA, Agent, Depositary
bank & Hedging bank
UK 2012
ITALY 2012
ITALY 2010- 2012
Real Estate and Hotel Group – Europe – 2012
€ 150.00 M
+
€ 35.00 M
Financing of 6 Trophy Italian
hotels
Mandated lead arranger
Hedging bank & Agent
Almacantar - CAA House
UK
GBP 60,300,000
3-year secured financing
Mandated Lead Arranger,
Hedging Bank & Fac. Agent
4
5
Singapore 2012
Japan 2012
Goodman Interlink
Cache Logistics Trust
JPY 4.0 Bio
JPY 2.0 Bio
SGD 375 Million
Term Loan Facility
Term Loan and Revolving Credit
Facilities
3-year Refinance of
“H&M Shibuya”
3-year Refinance of
“Somerset Azabu”
Transferable Loan Facilities
Co-Arranger
Sole Arranger
AUD 1,900,000,000
Senior Secured
Debt Facility
Lead Arranger
Australia 2012
IPG FINANCE PTY LTD
AUSTRALIA
WALKER GROUP HOLDINGS
PTY LTD AUSTRALIA
BUILDING B
(COLLINS SQUARE)
AUD 160,000,000
Senior Secured
Construction &
Term Facility
MLA
Australia 2012
HKD 1.7 Bio
Australia 2012
HKD 4,500,000,000
MLA & Bookrunner
Australia 2012
Japan 2012
Rich Day Investments Ltd.
& Bauhinia Hotels Ltd.
Hong Kong 2012
Hong Kong - 2012
Real Estate and Hotel Group – Asia – 2012
BGAI FINANCE COMPANY
PTY LTD AUSTRALIA
AUD 415,000,000
Senior Secured
Syndicated Facility
MLA
WALKER GROUP HOLDINGS
PTY LTD AUSTRALIA
BUILDING A
(COLLINS SQUARE)
AUD 156,250,000
Senior Secured
Syndicated Term Facility
Lead Arranger
USD 240,000,000
USD 325,000,000
USD 325,000,000
6
March 2012
March 2012
March 2012
March 2012
March&April 2012
Real Estate and Hotel Group – USA (1/2) – 2012
USD 475,000,000
USD 350,000,000
Senior Unsecured Notes
Subordinated Notes
Term Loan B
Senior Secured Revolver and
Term Loan Facility
Joint Bookrunner
Joint Bookrunner
Joint Lead Arranger
Joint Booking Manager
Co-Documentation Agent
EUR 80,000,000
Notional Interest Rate Swap
Sole Provider
January-March 2012
March 2012
March 2012
USD 750,000,000
Senior Secured Revolver and
Term Loan Facility
Senior Co-Manager
January-March 2012
Joint Lead Arranger
Lender
Multiple F/X Trades
Multiple F/X Trades
Sole Provider
Sole Provider
USA 2012
USA 2012
Real Estate and Hotel Group – USA (2/2) – 2012
Miami Design District
USD 1,750,000,000
USD 65,000,000
First Mortgage Revolver
Sole Lender
Co Manager
7
8
France 2011
France 2011
France 2011
France 2011
France 2011
Real Estate and Hotel Group – France 1/2 – 2011
EUR 500 M
EUR 180 M
EUR 109 M
EUR 20 M
Convertible Bonds
5Y Bond issue
acquisition of the IBM Campus
nursing homes
Refinancing of a French retail
portfolio
Joint Bookrunner
Co-Arranger & Agent
Co-Arranger
EUR 145 M
the River Ouest offices building
MLA & Agent
EUR 431 M
Refinancing of the French
portfolio of the Logistis Fund
Global Coordinator, MLA
& Agent
€ 167 M
Structured financing of a shopping
center at Villeneuve La Garenne
(Paris suburbs)
Arranger & Agent
2011
2011
France 2011
France 2011
Bookrunner
France 2011
EUR 115 M
€ 62.0 M
€ 650 M
a Pullman hotel in Paris +
capex line
Co- Arranger
Structured Refinancing of budget
hotels – Star Eco/Louvre Hotels
Co-Arranger / coordinator
EUR 41 M
Real estate financing
Structured financing of Nîmes
Costières Retail Park
Structured financing of
Perenco’s new French
Headquarter
Co-Arranger
acquisition of its new headquarter
(5 avenue Kléber Paris 8ème)
Sole Mandated Arranger
2011
France 2011
EUR 170 M
EUR 32 M
Co-Arranger
2011
EUR 150 M
France 2011
France 2011
October 2011
December 2011
France 2011
EUR 100 M
EUR 500 M
€ 85.5 M
€ 170 M
Capital increase
5Y Bond issue
Financing of the acquisition of a
portfolio of 32 hotels & capex line
Financing of the acquisition of a
portfolio of 20 office assets
Joint Bookrunner
Joint Bookrunner
Arranger
Co-Arranger and Agent
9
10
2011
UK 2011
UK 2011
UK 2011
Real Estate and Hotel Group – Europe 1/2 – 2011
Middle East Investor
TESCO / BRITISH LAND
UK
GBP 550 M
GBP 505 M
GBP 320 M
GBP 60,000,000
5-y Revolving Credit Facility
5-y Revolving credit Facility
5-y Term Loan Facility
Refinancing of a UK
Shopping centre with Tesco
As main tenant
Arranger
AXA REAL ESTATE IM
UK
EUR 71,600,000
Financing of a retail portfolio
Mainly located in Germany
ORIENT - EXPRESS
Brazil / UK
USD
115,000,000
3 year Financing of
2 Brazilian hotels
MLA, Hedging Bank & Agent
MLA, Hedging
Bank & Agent
2011
20 1 1
2011
2011
AIRPORT PROPERTY
PARTNERSHIP
UK
GBP
400,000,000
Refinancing of a logistics
portfolio on/off London
main airports
Arranger & Hedging Bank
WESTFIELD
UK
GBP
555,000,000
6 year Investment Loan
Facility
Mandated Lead Arranger &
Bookrunner, Hedging Bank
Financing of 8 logistic assets
MLA Hedging bank &
Agent
EUR 206 M
EUR 40 M
Refinancing of logistic portfolio
Refinancing of City Empiria
Poland and Czech Republic 2011
EUR 62.14 M
AEW Episo / VGP Group
Czech Republic 2011
Italy 2011
Czech Republic 2011
PBW I
EUR 205 M
Refinancing of shopping and
office portfolio
11
12
HKD 600,000,000
Term Loan and Revolving
Credit Facilities
MLA
Hong Kong 2011
Hong Kong 2011
Sunny Force Limited
HK Pacific Centre
No.9 Queen’s
Road Central
Dragon Ray
Holdings Limited
HKD 170,000,000
MGM China Holdings
USD 1,500,000,000
MLA
Hong Kong - August 2011
China - September 2011
Sunlight REIT
Finance Limited
HKD 4,050,000,000
Term Loan & Revolving
Credit Facilities
MLA & Bookrunner
Asia Square Tower 2 Pte Ltd
Suntec REIT
SGD 830 Mio
SGD 1,105 Mio
Term Loan Facility
Term Loan Facility
Initial Public Offer
Term Loan Facility
USD 240,000,000
Term Loan Facility
Credit Facilities
Global Coordinator, MLA
& Bookrunner
MLA & Security Agent
Accounts & Hedging
Bank
HKD 5,000,000,000
Home Inns & Hotels
Management Inc.
SGP 2011
Credit Facilities
Future Develop Limited
SGP 2011
USD 3,700,000,000
Term Loan Facility
Portfolio Financing
Hong Kong - October 2011
USD 100,000,000
VML US Finance LLC
Hong Kong/ Macau 2011
Goodman China Finance
Macau - October 2011
China – November 2011
China Loan Deal
Of the Year
Joint Lead Manager &
Joint Lead Bookrunner
Lead Arranger
AUS 2011
SGP 2011
Singapore 2011
Asia Square Tower 1 Pte Ltd
SGD 1,940,000,000
Term Loan Facilities
Resorts World at Sentosa
SGD 4 Bio
Term Loan & Revolving
Facility
Lead Arranger
CDPT FINANCE PTY LIMITED
AUSTRALIA
AUD 397,815,000
Senior Secured Term Facility
13
14
USA 2011
France 2011
USA 2011
USA 2011
USA 2011
Real Estate and Hotel Group – USA 1/4 – 2011
Miami Design District
Fair Oaks Mall
Riverside Square
Kings Plaza Mall
USD 45,000,000
USD 275,000,000
USD 130,000,000
USD 250,000,000
USD 36,000,000
830 North Michigan Avenue
First Mortgage Loan
First Mortgage Loan
First Mortgage Loan
Sole Lender
Syndication Agent,
Co-Lead Arranger
Sole Lead Arranger
Co-Lead Arranger
Sole Lender
G/B/H Four Star
Bonnet Creek
G/B/H Four Star
Bonnet Creek
USD 360,000,000
USD 288,000,000
USD 425,000,000
USA 2011
USA 2011
USA 2011
USA 2011
First Mortgage Term Loan
USA 2011
First Mortgage Revolver
USD 75,000,000
USD 1,400,000,000
Term Loan
Interest Rate Swap
Preferred Stock Offering
Secured Credit Facilities
Arranger and
Administrative Agent
Sole Provider
Senior Co-Manager
Co-Manager
Senior Managing Agent
USD 200,000,000
IPO CLSA
Revolving Credit Facility
Joint Bookrunner
Lender
Secondary Equity Offering
Interest Rate Cap
Sole Provider
Co Manager
Sole Provider
F/X Trades
July 2011
Interest Rate Collar
May 2011
June 2011
June 2011
USD 1,500,000
USD 50,000,000
Solde Provider
USD 75,000,000
Add-On Senior
Unsecured Notes
Senior Co-Arranger
January-December 2011
Arranger and
Joint Bookrunner
15
USD 74,000,000
USD 37,000,000
Secured Term Loan Facility
USA 2011
USA 2011
USD 85,000,000
USD 800,000,000
March 2011
USA 2011
USA 2011
Multiple F/X Trades
Sole Provider
Unsecured Credit Facility
Sole Provider
Lender
Great Wolf Concord
Arranger &
USD 56,000,000
Syndication Agent
November 2011
November 2011
November 2011
USD 350,000,000
USD 410,000,000
USD 1,000,000,000
USD 1,000,000,000
July 2011
August 2011
16
Co-Manager
Joint Lead Arranger &
July 2011
Senior Revolver &
Term Loan Facility
Multiple F/X Trades
July 2011
USD 925,000,000
January-December 2011
August 2011
USD 22,000,000
Great Wolf Concord
Interest Rate Cap
Sole Provider
USD 2,150,000,000
Secured Credit Facility
Lender
17
USA 2011
USA 2011
USA 2011
USA 2011
300 Park Avenue
Riverside Square
USD 45,000,000
USD 21,666,667
Cap
IRD
Provider
Multiple F/X Trades
Provider
Fair Oaks Mall
USD 275,000,000
USD 1,155,750,000
USD 350,000,000
Interest Rate Swap
Secondary Equity Offering
Senior Convertible
Note Offering
Co Manager
Co Manager
USA 2011
USA 2011
USA 2011
Provider
Co Provider
USD 400,000,000
Co Manager
EUR 133 M
EUR 180 M
EUR 83 M
acquisition of 19 assets
Refinancing of the Areva Tower
at La Défense
Structured financing of a retail
portfolio (Leader Price)
Arranger
Co-Arranger
Participant
EUR 250 M
“Cap 3000” shopping center
(Nice)
France 2010
France 2010
France 2010
France 2010
18
France 2010
France 2010
France 2010
France 2010
EUR 500 M
EUR 70 M
EUR 38 M
EUR 400 M
Refinancing & New money
Sale & Lease back
Club-Med Valmorel
Financing of Pullman hotel La
Défense
Refinancing of a Paris offices
portfolio
Co-Arranger & Agent
Participant
Arranger & Agent
Agent and MLA
EUR 350 M
EUR 200 M
Corporate Structured
Financing
Externalisation of assets to
Ascott Residence Trust
(Singapore REIT)
Mandated Arranger
France 2010
2010
Co-Arranger and Agent
EUR 180,6 M
€ 47.5 M
Refinancing of a portfolio of
22 French logistic assets
Structured refinancing of hotels
Participant
of Time hotels group
Arranger & Agent
19
France 2010
France 2010
France 2010
France 2010
EUR 150 M
EUR 84,4 M
Acquisition financing for a
portfolio of 39 Accor hotels
Structured financing of the Cité
du Cinéma project
Arranger and Agent
Co-Arranger
Financing of 4 Italian hotels
Hedging bank & Agent
Italy 2010
Italy 2010
CITYLIFE
Development loan
Financing of Castel Romano
designer outlet
& Hedging bank
UK 2010
Italy/UK 2010
& Agent
20
EUR 57.20 M
Financing of 2 office assets
& Agent
UK 2010
Financing of an office asset
EUR 150 M
EUR 81.0 M
EUR 1,690 M
EUR 48.78 M
UK 2010
Italy 2010
Italy 2010
GBP 385 M
GBP 241 M
5 year Revolving Credit Facility
5 year Investment Loan Facility
Financing of the Thames Portfolio
acquisition
Arranger & Original Lender
GBP 350 M
Arranger
EUR 54.4 M
Refinancing of a shopping
center in Budapest
Sole Arranger
Czech Republic 2010
Hungary / Czech Republic 2010
EUR 145 M
Refinancing of a logistics
portfolio in the Czech Republic
Participant
21
Ascott Singapore Raffles Place
3-year Secured Term Loan
Sole Lender
USD 108,000,000
Onshore & Offshore
3–yr Term Loan Facility
MLA & Security Agent
Peninsula of Tokyo
Limited
JPY 6 Bio
Term Loan Facility
Sole Arranger
Hong Kong 2010
HKD 1.648 Bio
Term Loan and
Revolving Credit Facilities
Term Loan Facility
Tranche G Term Loan and
Revolving Credit Facilities
Refinancing
Japan 2010
Hong Kong 2010
Shanghai Phoenix Waigaoqiao
Bonded Logistics Center
Goodman HK Finance
Japan 2010
3-year Secured Term Loan
Facility
Foxhill Investments Limited
Vicwood Plaza
22
HKD 2.045 Bio
HKD 4.5 Bio
Hong Kong 2010
SGD 100 M
China 2010
JPY 4.1 B
Jade Mate Limited
Tuen Mun Town Plaza Phase 1
Hong Kong 2010
Hong Kong 2010
Singapore 2010
Singapore 2010
Real Estate and Hotel Group – Asia 1/3 – 2010
HKD 7,410,000,000
JPY 10.5 Bn
JPY 8 Bn
5-years Term Loan &
Revolving Facilities
Financing for
Residential portfolio
Non-recourse finance
for office building in Japan
Arranger
Co-Arranger
JPY 6.5 Bn
Brookfield CS
Borrower PTY LTD
JPY 12.4 Bn
AUD 230 M
AUD 550 M
Refinance for
Logistics portfolio
Refinance for
Residential portfolio
Senior Secured Facility
Construction & Term Facility
Co-Lender
Co-Lender
AMP Capital Wholesale
Office Fund
AUD 850 M
Senior Secured Term &
Working Capital Facilities
Credit Agricole CIB
Co-Arranger
Senior Secured Portfolio
Term Facility
Lead Arranger & Lender
AUD 430 M
Australia 2010
Credit Agricole CIB
Hamilton Harbour
Australia
Brookfield MLF
Borrower Pty Ltd
AUD 112 M
AUD 163 M
AUD 355 M
Secured Term Loan for Office /
Industrial Properties
Senior Secured
Construction Loan Facility
Secured Portfolio
Term Facility
Credit Agricole CIB
Sole Arranger & Lender
Credit Agricole CIB
Lead Arranger
Australand Investment
Finance Pty Ltd
AUD 735 M
AMP Pacific Fair &
Macquarie Shopping
Centre Fund
Revolving Facility
Australia 2010
Australia 2010
Australia 2010
Australia 2010
(CA-CIB portion)
23
Australia 2010
Australia 2010
Australia 2010
Japan 2010
Japan 2010
Credit Agricole CIB
Australia 2010
Australia 2010
Australia 2010
Australia 2010
BL Developments Pty Ltd
USD 1.360 BN
GAIF 3-1 Borrower
Company Pty Ltd
Smith Street Pty Ltd
AUD160 M
AUD 150 M
Forward Start Revolving
& Term Loan
AUD 42.7 M
Revolving Construction Facility
Senior Secured Portfolio
Term Facility
Construction & Term Facility
Credit Agricole CIB
Senior Manager
Credit Agricole CIB
Joint Lead Arranger
Credit Agricole CIB
Credit Agricole CIB
24
25
USA 2010
USA 2010
USA 2010
USA 2010
USD 375,000,000
USD 172,500,000
USD 501,800,000
Initial Public Offering
8.625 million shares
Syndication Agent
Co-Manager
Amended & Restated Secured
Revolving Credit & Term Loan
Facility
USD 85,000,000
USD 80,000,000
Secured Revolving Credit Facility
Arranger &
USA 2010
USA 2010
USA 2010
USA 2010
USD 1,500,000,000
USD 325,000,000
USD 150,000,000
Interest Rate Swap
Sole Provider
Lender
USA 2010
USA 2010
USA 2010
Charles E. Smith
Portfolio
300 Park
USD 84,966,271
USD 3,900,000,000
USD 135,000,000
First Mortgage Loan on four
Washington D.C. office buildings
Due 2014
Unsecured Revolving Credit
Due 2013
First Mortgage Loan on
300 Park Ave., New York, NY
Due 2015
Documentation Agent
Co-Lead Arranger
& Bookrunner
USA 2010
USA 2010
Documentation Agent
Valencia
USD 153,711,023
USD 227,000,000
Unsecured Term Loan
Due 2015
First Mortgage Loan on Valencia
Town Center, Valencia, CA
Due 2013
Joint Lead Arranger,
Joint Bookrunner
& Syndication Agent
Documentation Agent
26
Public tender offer on Silic
Advisor to
Patrimoine & Commerce
2011
2012
Advisor to Predica
M&A
Advisor to AEW
M&A
2012
Advisor to SIIC de Paris
Public tender offer
2011
Public tender offer
Merger of the 3 logistic funds
“Logistis” managed by AEW
Europe & creation of an
Euopean investment
platform
Merger of SIIC de Paris and
SIIC de Paris 8ème
Advisor to
Foncière des Régions
Advisor to Icade
Public tender offer
Acquisition of a minority
stake in Icade Santé
Public tender offer on
Foncière Europe
Logistique, followed by
mandatory delisting
M&A
2011
Foncière Sépric
27
2012
Pending
Pending
M&A major deals on Real Estate aera
Creation of an investment
vehicle dedicated to retail
parks
Advisor to the institutional
investors
Partnership
Eurosic by Batipart
Advisor to Batipart
Public tender offer
Advisor to Louvre Hôtels
Sale & lease back of a hotel
portfolio
€ 367 m
Advisor to Foncière des
Régions
Advisor to a consortium of
investors
€ 1 400 m
2009
Acquisition of a shopping
center Carré de Soie
Advisor to
Compagnie La Lucette
Advisor to Crédit Agricole
Assurances
Fairness Opinion
Acquisition
Acquisition of the shopping
center Cap 3000
€ 450 m
Advisor to a consortium of
investors
Acquisition
Disposal
2010
2010
Disposal
Acquisition by Icade
2010
Disposal of a minority
stake in Tower CB21 (la
Défense)
€ 580 m
Acquisition
2009
Sale & Lease
Back of hotel portfolio
28
2010
2011
2010
Split agreement
Metrovacesa / Gecina
Acquisition of offices and
allocation of warrants to
existing shareholders
Advisor to Gecina
Advisor to Foncière des
Régions
M&A
M&A
2009
2009
Acquisition of co-ownership
units in Paris (co-investment
with SFL)
Asset contribution
of c.€ 100 m
and public tender offer
on its share capital
Advisor to Predica
Acquisition
Advisor to FDL
Public tender offer
29

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