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An update from Grand City Properties SA ( (DE:GYC) ) is now available.
Grand City Properties S.A. has successfully issued €600 million in perpetual notes with a 4.75% coupon, attracting strong investor demand with a peak orderbook exceeding €2 billion. The company plans to use the proceeds to buy back higher coupon perpetual notes and partially refinance upcoming notes due in 2026, aiming to reduce its average coupon rate and improve its financial metrics under S&P’s rating methodology.
More about Grand City Properties SA
Grand City Properties S.A. is a specialist in residential real estate, focusing on value-add opportunities in densely populated areas primarily in Germany and London. The company enhances its properties through repositioning and intensive tenant management to increase occupancy and rental levels.
See more insights into GYC stock on TipRanks’ Stock Analysis page.