Bond tender offer finalized
Gecina has finalized the bond tender offer launched on September 19, 2017 for three outstanding bond issues:
- An initial 650 million euro bond issue maturing in April 2019, with a 4.75% coupon and 439.7 million euros outstanding
- An initial 500 million euro bond issue maturing in July 2021, with a 1.75% coupon and 236.1 million euros outstanding
- An initial 300 million euro bond issue maturing in May 2023, with a 2.875% coupon and 242.6 million euros outstanding
The nominal amount tendered for the offer came to 274 million euros, with an average take-up rate of 30% across all the bond issues. This take-up rate was 43% for the bonds maturing in 2019, 21% for the 2021 bonds and 13% for the 2023 bonds.
This operation, combined with the placement of the bond issue from September 19, 2017 with a 10.3 year maturity and 1.375% coupon, is in line with the financing strategy for the new combined structure with Eurosic, contributing towards extending the average maturity of its debt and optimizing its cost over the long term.
To safeguard its communications, Gecina certifies its contents with Wiztrust. You can check their authenticity at www.wiztrust.com.