Gecina receives €3bn loan for Simco acquisition

BNP Paribas, HSBC and Royal Bank of Scotland are arranging one of the biggest European syndicated loans of the year to finance the €2.3bn ($2.3bn) mixed public offer for Simco by Gecina, the French quoted property company.

The €3bn loan, to be syndicated soon, will back Gecina's acquisition of two stakes worth 52% of Simco from Axa, the French finance and wealth management group, and Crédit Foncier de France (CFF), the property financing specialist.

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