Gecina Successfully Places a 500 Million Euro Bond Issue at 1.0% and Opens an Offer to Redeem Three Outstanding Bond Issues

Freitag, 23.09.2016 18:10


Regulatory News:

Gecina (Paris:GFC) 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.

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.

Gecina, a leading real estate group

Gecina owns, manages and develops property holdings worth 11.7 billion euros at July 1, 2016, with 97% located in the Paris Region. The Group is building its business around France’s leading office portfolio and a diversification division with residential assets and student residences. These data exclude the healthcare portfolio, which was sold for 1.35 billion euros on July 1, 2016. Gecina has put sustainable innovation at the heart of its strategy to create value, anticipate its customers' expectations and invest while respecting the environment, thanks to the dedication and expertise of its staff.

Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, Euronext 100, FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and Vigeo indices. In line with its commitments to the community, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.

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