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France's Klépierre, Gecina raise E1.2bn capital
French REIT/SIIC Klépierre has raised E900m through issue of a convertible bond. It launched a E700m seven-year bond at 125bp above the swap rate and a E200m, 10-year private placement at 135bp over swaps. Separately, sector peer Gecina raised E320m via convertible bonds and said the issue was many times oversubscribed. "The purpose is to allow the company to diversify its sources of financing," Gecina said.