Brief: Grand City Properties Announces Successful Issuance Of Eur 600 Mln Perpetual Notes And Launch Of Tender Offer

Grand City Properties SA

01/12/2025 16:22

Dec 1 (Reuters) - GRAND CITY PROPERTIES SA GYC.DE:

ANNOUNCES SUCCESSFUL ISSUANCE OF €600 MILLION PERPETUAL NOTES AND LAUNCH OF TENDER OFFER

PERPETUAL NOTES SERIES BEARING A COUPON OF 4.75%

STRONG PEAK ORDERBOOK OF OVER EUR 2 BILLION

PLANS TO USE PROCEEDS OF ISSUANCE TO BUY BACK HIGHER COUPON PERPETUAL NOTES AS WELL AS PARTIAL REFINANCING OF UPCOMING NOTES WITH A FIRST CALL DATE IN 2026

HAS LAUNCHED A TENDER OFFER IN PARALLEL TO ISSUANCE

COMPANY AIMS TO START ADDRESSING REFINANCING OF UPCOMING NOTES WITH A FIRST CALL DATE IN 2026

TENDER WAS LAUNCHED ON 1ST OF DECEMBER AND IS EXPECTED TO EXPIRE ON 8TH OF DECEMBER

Source text: ID:nEQ8sknCTa

Further company coverage: GYC.DE

 (Gdansk Newsroom)

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