Paris, France, September 23, 2016

Gecina successfully places a 500 million euro bond issue at 1.0% and opens an offer to redeem three outstanding bond issues

Gecina has today successfully placed a 500 million euro bond issue, maturing in January 2029 (maturity of 12.3 years) with a coupon of 1.0%.

The coupon for this latest issue is the lowest ever achieved for a bond issue by Gecina, combined with the highest ever maturity for the Group. This bond issue was more than 2 times oversubscribed by a top-tier base of pan-European investors, confirming the market's confidence in Gecina's credit rating, in a positive market environment.

CM-CIC, Goldman Sachs, HSBC, JP Morgan, Mediobanca and Société Générale were the bookrunners for this issue.

Alongside this, Gecina is opening a redemption offer, which will close on October 3, 2016, for three outstanding public bond issues:

  • A 650 million euro bond issue maturing in January 2019, with a 4.75% coupon
  • A 500 million euro bond issue maturing in July 2021, with a 1.75% coupon
  • A 300 million euro bond issue maturing in May 2023, with a 2.875% coupon

BNP Paribas, Goldman Sachs, HSBC and Société Générale are the bookrunners for this redemption offer, with Goldman Sachs as the Structuring Advisor.

These operations are in line with the Group's financing strategy, contributing towards extending the average maturity of its debt and reducing its average cost over the medium term.

Gecina is rated BBB+ / outlook stable by Standard & Poor’s and Baa1 / outlook stable by Moody’s.


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