Our financial performance confirms the correctness of our value-creation strategy.


LTV (excl. transfer taxes)


Financial ratings

7.4 years

Debt maturity

A solid financial structure

Our financial structure ensures solidity through controlled financial ratios, privileged access to various sources of financing, diversification of our financial resources, and a healthy cash position.

Debt structure as of December 31, 2023

Gecina's net debt is €6.2 billion. Gross debt breaks down as above.

Debt maturity breakdown at December 31, 2023 after taking into account unused revolving credit lines (€bn)




At December 31, 2023 the Group's main covenants were:

                  Benchmark standard

Balance at 06/30/2023


Net debt / revalued block value of property holding (excluding duties)

              Maximum 55 % / 60%                  36.5 %


EBITDA / net financial expenses

                    Minimum 2.0 x                  5.9 x



Medium- and long-term debt

Discover the details of its bond issues.


Short-term debt

Discover the details of its short-term securities

Find out more

Our latest financial transactions

Gecina successfully places a 500 million euro Green Bond issue with an 11-year maturity at 0.875%

Gecina successfully raises €500m with a 15-year Green Bond issue based on a coupon of 0.875%

100% of Gecina’s bond issues now transformed into Green Bonds

Gecina wants to transform 100% of its bonds into Green Bonds, within a global, dynamic and innovative approach

44% of Gecina’s bank lines are now responsible, representing 2 billion euros

Financial rating


We are rated by two independent rating agencies: Standard & Poor's and Moody's. Their ratings confirm our solvency, and facilitate our access to financial markets.


  Standard & Poor's rating Moody's rating

Long-term rating

A- (outlook stable) A3 (outlook stable)

Short-term rating