Paris, France, June 4, 2019

Bond tender offer finalized

Gecina has finalized the bond tender offer launched on May 22, 2019 and covering three of its outstanding series of notes, redeeming a nominal total of 151.5 million euros (average residual maturity of 4.6 years and average coupon of 2.0%), with the following breakdown:

  • 19.2 million euros on a bond issue due July 30, 2021, with a coupon of 1.75% and 185.8 million euros outstanding before this tender offer (166.6 million euros following this tender offer);
  • 10.1 million euros on a bond issue due May 30, 2023, with a coupon of 2.875% and 210.3 million euros outstanding before this tender offer (200.2 million euros following this tender offer); and
  • 122.2 million euros on a bond issue due June 17, 2024, with a coupon of 2.00% and 500 million euros outstanding before this tender offer (377.8 million euros following this tender offer).

This operation, combined with the 500-million euro bond placement on May 22 with a 15-year maturity and 1.625% coupon, has enabled the Group to further extend the average maturity of its debt (+0.8 years, all things being equal), under favorable financial conditions, while continuing to build an optimal credit schedule.

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