France’s second-largest publicly traded property company, SIIC Gecina, has raised €500 million in a bond issue that was more than six times oversubscribed, PropertyEU reports. The notes, which carry a coupon rate of 4.25%, are due to mature in February 2016.
Through the new bond issue, Gecina will also benefit from a diversification of its investor base, with France representing 38% of the take-up, the U.K. a further 18% and Germany and Switzerland another 11% and 10%. The joint book runners and lead underwriters for the deal were Deutsche Bank, Crédit Agricole, ING, Natixis and Société Générale.
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