Commentary & Deal Flow

AXA Logistics Europe Master S.C.A. (“AXALEM”), a pan-European, open-ended, logistics real estate investment fund managed by BNP Paribas Real Estate Investment Management France, rated BBB+ (Stable) by Fitch, has mandated Morgan Stanley as Global Co-ordinator and Active Bookrunner, along with BNP Paribas, Crédit Agricole CIB and Natixis as Active Bookrunners, to arrange a series of fixed income investor calls to be scheduled on 14-Sep-26.

An expected €300m WNG, Reg S, Green Senior Unsecured 6yr € offering will follow, subject to market conditions.

• Expected Issue Rating: A- by Fitch
• Programme: €2,000,000,000 Euro Medium Term Note Programme
• Base Listing Particulars: Dated 3-Nov-25, as supplemented by the first supplement dated 31-Aug-26, and the second supplement dated 7-Sep-26 (the “Base Listing Particulars”) and, once available, the Pricing Supplement relating to the New Notes may be obtained from https://live.euronext.com/
• Use of Proceeds: Financing and/or refinancing Eligible Green Projects, as further described in AXALEM’s green financing framework
• Second Party Opinion: Sustainalytics