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


LTV (excl. transfer taxes)


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 €7.0 billion. Gross debt breaks down as above.

Debt maturity as of June 30, 2020

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



At December 31, 2019 the Group's main covenants were:


                  Benchmark standard

Balance at 12/31/2019


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

              Maximum 55 % / 60%                  35.1 %


EBITDA / net financial expenses

                    Minimum 2.0 x                  5.5 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 bond issue with a 15-year maturity at 1.625% and launches a Tender Offer on three of its outstanding series of notes

Gecina sets up a sustainability performance-linked loan with Crédit Agricole CIB

Gecina concludes with ING France the first sustainable improvement loan indexed on its GRESB Rating

Gecina successfully carries out a new €500m bond issue with a 12-year maturity and 1.625% coupon

Bond tender offer finalized

Gecina successfully places a 700 million euro bond issue at 1.375% and opens an offer to redeem three outstanding bond issues

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