Gecina : successfully raises E400m on bond market
Cercle Finance•26/10/2020 à 08:32
(CercleFinance.com) - On Friday the real estate group Gecina successfully raised 400 million euros through two bond issues.
It has hence reopened the bond issue maturing in June 2027 (remaining maturity of 6.7 years) for E200m, at a yield of 0.08%, while reopening the bond issue maturing in May 2034 (remaining maturity of 13.6 years) for E200m, at a yield of 0.86%.
Raising the 400 million euros, with an average maturity of 10.1 years and a weighted average yield of 0.47%, means that the group is extending the average maturity of its debt to 7.3 years under favourable conditions,
'The offers were widely oversubscribed by a top-tier base of pan-European investors, confirming the market's confidence in Gecina's credit rating. Gecina,' management said.