Gecina has also aligned its financing with its CSR convictions, setting up new responsible credit lines and
requalifying all of its outstanding bon ds as Green Bonds.
€575m of new financing secured since the start of the year
Since the start of 2023, thanks to its strong financial ratings, Gecina has proactively secured €575m of new
debt under favorable conditions.
o €325m of bank loans - including €180m of undrawn credit lines - with a maturity of 6.1 years based
on equivalent financial conditions (margin) to the other existing credit lines.
o €250m of bond financing, with an average maturity of 8.4 years and a margin of 91bp.
LTV down to 32% (inclu ding duties)
The reduction in the Group’s net debt  (to €6.3bn  at end -June 2023 vs. €7.2bn  at end -December 2022),
particularly following the disposal s completed during the first half of the year, consolidated the LTV at
around 32% (including duties) , and also significantly improved the ICR and the net debt/EBITDA ratio s.
Liquidity further strengthened, making it possible to cover  bond  maturities through to 2028
Alongside this , access to liquidity has been significantly strengthened , thanks to nearly €5.3bn  of
available liquidity, with €4.1bn of liquidity net of short -term financing facilities, considerably higher than the
long -term target of €2.0bn. To date, this surplus liquidity makes it possible to cover the bond maturities
throu gh to 2028, i.e. one more year than the situation published at the end of 2022.

### Language ###
English

### Assessment ###
The text contains information about Gecina's current LTV (Loan-to-Value) ratio, which would be a relevant financial metric to query about.

### Query ###
What is Gecina's current LTV ratio?
What is Gecina's current LTV ratio?