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Gecina places €500M bonds, launches tender offer for 3 outstanding notes series

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Gecina places €500M bonds, launches tender offer for 3 outstanding notes series

Gecina placed a €500 million bond issue maturing in May 2034, with a coupon of 1.625%, in an issue that was up to 5x oversubscribed by a group of pan-European investors.

Additionally, the French real estate investment trust launched a tender offer for three of its outstanding series of notes, which have an average maturity of four years and an average coupon of 2.15%.

The offer involves €500.0 million of 1.75% notes due July 30, 2021, of which €185.8 million is outstanding; €300.0 million of 2.875% notes due May 30, 2023, of which €210.3 million is outstanding; and €500.0 million of 2.00% notes due June 17, 2024, of which €500.0 million is outstanding.

The offer is set to close June 3, Gecina added in a release.

BNP Paribas, Crédit Agricole CIB, CM-CIC, HSBC, Natixis, NatWest Markets and Société Générale served as book runners for the bond issue.

BNP Paribas and Société Générale are acting as book runners for the tender offer.