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The latest update is out from Grand City Properties SA ( (DE:GYC) ).
Grand City Properties S.A. has successfully refinanced its perpetual notes through a proactive transaction, replacing approximately €500 million of higher coupon notes with new €600 million perpetual notes issued at a 4.75% coupon. This move is expected to save approximately €7 million annually in coupon payments, making the transaction FFO accretive and supportive of the company’s credit metrics. Additionally, the company has begun refinancing its €700 million 1.5% perpetual notes ahead of their first call date in 2026 by buying back around €100 million of these notes, leaving €600 million outstanding.
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 aims to improve its properties through repositioning and intensive tenant management, enhancing value by increasing occupancy and rental levels.
See more data about GYC stock on TipRanks’ Stock Analysis page.