PARIS – Bracewell AARPI advised the lending syndicate co-arranged by CACE, BPIFRANCE, BP GO et BP BFC on the financing in favor of Groupe SRC of a biomass cogeneration plant, a log wood production unit and a solar power plant.
The forestry and wood industry is a key sector for decarbonization. Groupe SRC, a family-owned and operated sawmill and flooring company, is investing in new major equipment for its industrial site, including a cogeneration plant and solar panels to power part of its buildings with the aim of achieving energy independence and creating a new production line for densified logs for the domestic heating market. The group’s activities are based in Givry, in Bourgogne-Franche-Comté, France.
The facilities are granted by a syndicate of lenders including Crédit Agricole Centre-Est, Bpifrance, Banque Populaire, Caisse d’Epargne, CIC Lyonnaise de Banque and Société Générale at different levels in the group to Groupe SRC, Les Scieries Réunies du Chalonnais and SRC Energie. Crédit Agricole also acquired a minority participation in Groupe SRC, through a capital increase subscribed by its investment vehicles IDIA Capital Investissement et Crédit Agricole Régions Investissement.
The Bracewell team included:
Partner: Arnaud Bélisaire
Counsel: Véronique Bruel
Associates: Sandra Hahn Duraffourg and Noémie Portut-Castel
The agent, CACE, was represented by Edouard Saint-Michel and Sullyvane Deguette.
