Financing

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

35.4%

LTV (excl. transfer taxes)

A-/A3

Financial ratings

7.1 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 June 30, 2020

Gecina's net debt is €7.1 billion. Gross debt breaks down as above.

Debt maturity as of June 30, 2021

After taking unused credit lines into account, all the Group's payment short-term obligations were covered.

Covenants

 

At June 30, 2021 the Group's main covenants were:
 

 

                  Benchmark standard

Balance at 06/30/2021

LTV

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

              Maximum 55 % / 60%                  35.4 %

ICR

EBITDA / net financial expenses

                    Minimum 2.0 x                  5.4 x

 

Debt

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 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

Gecina successfully raises €400m on the bond market, with an average maturity of 10.1 years and an average yield of 0.47%

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

A-2