| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for Gecina SA > News item |
Gecina buys back €515 million of 4.75%, 1.75%, 2.875% eurobonds
By Angela McDaniels
Tacoma, Wash., Oct. 3 – Gecina SA received tenders for €515 million of bonds during a tender offer that began Sept. 23, according to a company news release.
In the tender offer, the company offered to buy back its €650 million of 4.75% eurobonds due January 2019, €500 million of 1.75% eurobonds due July 2021 and €300 million of 2.875% eurobonds due May 2023.
The take-up rate was 30% for the 4.75% bonds, 53% for the 1.75% bonds and 19% for the 2.875% bonds. The average take-up rate was 36% across the three bond issues.
The company also issued a 1% 12.3 year bond on Sept. 23.
The company said the tender offer and new bond extend the average maturity of its debt and reduce its cost over the long term.
BNP Paribas, Goldman Sachs, HSBC and Societe Generale were the bookrunners, with Goldman Sachs as the structuring adviser.
Gecina is a real estate group based in Paris.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.