Bond tender offer finalized

Paris, France, September 27, 2017

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.

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