Gecina successfully places a 700 million euro bond issue at 1.375% and opens an offer to redeem three outstanding bond issues

Paris, France, September 19, 2017

Gecina has today successfully placed a 700 million euro bond issue, maturing in January 2028 (maturity of 10.3 years) with a coupon of 1.375%. 

This bond issue was more than two 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.

Barclays, BNP Paribas, CM CIC, HSBC, Mediobanca, Natixis and Société Générale were the bookrunners for this issue.

 

Alongside this, Gecina is opening a redemption offer, which will close on September 26, 2017, for three outstanding public bond issues:

  • An initial 650 million euro bond issue maturing in April 2019, with a 4.75% coupon and 439.7 million euros currently outstanding
  • An initial 500 million euro bond issue maturing in July 2021, with a 1.75% coupon and 236.1 million euros currently outstanding
  • An initial 300 million euro bond issue maturing in May 2023, with a 2.875% coupon and 242.6 million euros currently outstanding

HSBC and Société Générale are the bookrunners for this redemption offer.

 

In addition to financing for the operation to redeem these outstanding bonds, this issue will make it possible to refinance existing facilities, while extending the maturity and optimizing the cost of debt for the new combined structure with Eurosic.

Gecina is rated BBB+ / outlook positive by Standard & Poor’s and A3 / outlook negative by Moody’s.

 

Not for distribution in the United States, Australia, Canada or Japan. This press release does not constitute an offer of securities in the United States or in any other country. The bonds may not be offered or sold in the United States of America unless they are registered or exempt from registration under the U.S. Securities Act of 1933 (amended). Gecina does not intend to register all or part of the offering in the United States or to conduct a public offering in the United States.

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