French office giant Gecina has announced the placement of a EUR 650 mln bond as it continues to diversify its financial resources.
French office giant Gecina has announced the placement of a EUR 650 mln bond as it continues to diversify its financial resources.
The bond, which matures in seven years, was placed with a broad base of European investors. It was issued at a 290 bps spread over the mid-swap rate and a coupon of 4.75%.
This operation is in line with the company's strategy to increase the share of bond debt to 30% of its total financing sources.
Barclays and BNP Paribas acted as global coordinators for this operation. In addition, Barclays, BNP Paribas, Crédit Agricole CIB, Crédit Mutuel-CIC, Natixis, Royal Bank of Scotland and Société Générale Corporate and Investment Banking were joint book runners.
Gecina owns, manages and develops property holdings worth EUR 12 bn, with 86% located in the Paris Region.
