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Transaction Alert -BLC Robert acted as legal advisor to New Futures Ltd on the structuring and capital raise of the Le Domaine de Grand-Baie

We have acted as legal advisor to AEGIDE DOMITYS and 2Futures on the EUR 58.5 million structuring and capital raise for the construction of Le Domaine de Grand-Baie ("LDGB"), a 155 unit senior serviced residences located in Grand Baie, Mauritius. AEGIDE DOMITYS, a subsidiary of NEXITY (EPA: NXI), is the leading developer and manager of senior serviced residences in France and Belgium. In line with its international growth strategy, AEGIDE DOMITYS will, in partnership with 2Futures, act as co-developer for the construction of LDGB. Thereafter, AEGIDE DOMITYS will operate and manage the residences under a triple net lease.

The innovative nature of the capital structure, which comprised equity, a structured bond issue of multiple tranches, maturities and security status and a syndicated loan facility, required expert advise and a bespoke drafting of the transaction documents. In close collaboration with MCB Capital Markets, the transaction advisor and investment banking arm of MCB Group, we drafted and advised on the triple net variable lease agreement, the development management agreement, the shareholders' agreement, the share purchase and subscription agreement, the private placement memorandum and its associated security documents, and the listing particulars. In addition, we acted as the borrower's counsel in respect of the syndicated loan facility. The BLCR team was led by Jason Harel and supported by Yashfir Beeharry.