About the transaction

Banque Internationale à Luxembourg (BIL) Corporate Finance announces the successful closing of a €213m senior syndicated financing for the construction of the future PwC campus (34,500 m²) in Cloche d’Or, Luxembourg. The new campus will integrate seamlessly into the urban environment with walking areas, rest zones and workspaces, aligning with the principles of the European Taxonomy.

BIL Corporate Finance acted as Arranger, Facility Agent, Security Agent and Lender, alongside Caisse d'Épargne et de Prévoyance Hauts de France (as Green Loan Coordinator and Lender), Belfius Banque SA/NV, Banque et Caisse d'Épargne de l'État, Luxembourg and KBC Bank N.V/S.A. (as Lenders). The financing includes a term loan to (i) refinance the acquisition of the plot and (ii) finance the construction, as well as a revolving VAT facility.

About Atenor

Atenor is an urban sustainable real estate developer, recognised as a Global Listed Sector Leader by GRESB, with expertise across Europe. Listed on Euronext Brussels, Atenor’s mission is to meet the evolving demands of urban and professional life through sustainable urban planning and architecture. Atenor invests in large-scale projects that adhere to strict criteria for location, economic efficiency and environmental respect. Active in 10 European countries and 14 cities, Atenor’s local teams manage 33 projects, spanning an impressive 1,200,000 m². Atenor is internationally recognised as a sustainable urban developer, aligning with the European Taxonomy and aiming for the highest BREEAM and WELL certifications.

About Cloche d’Or project

Located in the heart of the Cloche d´Or business district, the PwC campus will feature 34,500 m² of office space, including 3,500 m² of green areas and 5,700 m² of terraces, creating an oasis of well-being for employees. The site, highly visible from Boulevard Raiffeisen and near the future tram line, benefits from direct access to major roads and an exchange platform for soft mobility. Designed as a model for collaborative and fulfilling workspaces, the project aims to set a benchmark in employee well-being.

Aligned with the European Taxonomy and the goals for a low-carbon economy by 2050, the project is at the forefront of sustainable innovation. The permit for the project was obtained in June 2023. Following Renault’s departure end of June 2024, excavation works commenced immediately. Construction is scheduled to begin in the first quarter of 2025, with the project expected to be completed by July 2027 at the latest. The campus is commercially secured by a 15-year green lease agreement with PwC, signed in March 2022.

About BIL Corporate Finance

BIL Corporate Finance delivers a unique offer combining lending and financial advisory services dedicated to entrepreneurs, corporates and asset managers to support their strategic transactions.

A team of pan-European corporate finance experts provide tailor-made solutions across the capital structure (senior-junior debt, quasi-equity, equity) from Luxembourg and Switzerland in various projects, sectors and geographies (Benelux, Switzerland, France, Germany and Greater China).

Quote Atenor

Michael Dieu, Group Treasury, Banking & Cash Management: “We are delighted with this European banking pool, which brings together our trusted partners, including Banque Internationale à Luxembourg SA, Belfius Banque SA/NV, Banque et Caisse d'Épargne de l'État, Luxembourg, Caisse d'Épargne et de Prévoyance Hauts de France and KBC Bank N.V/S.A.”

Quote BIL Corporate Finance

Tobias Beck, Julien Ruggeri, Natalia Penedo Pereira (BIL Corporate Finance), Stéphanie Attoumani (Legal) & Eliane Theissen (Corporate Banking) say: "We are very proud to support a strategic real estate project of Atenor and PwC Luxembourg. It was a pleasure to advise and work closely with our partners at Atenor and PwC and would like to thank them for their trust in our unique Corporate Finance Offer in Luxembourg.”