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Citycon signed total EUR 500 million committed syndicated revolving credit facilities


News provided by

Citycon Oyj

17 Nov, 2020, 14:42 GMT

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HELSINKI, Nov. 17, 2020 /PRNewswire/ -- Citycon Group has today signed total EUR 500 million new committed syndicated multicurrency revolving credit facilities, to replace and extend its existing EUR 500 million facility maturing in December 2021. The new facilities consist of an unsecured facility and a secured facility, both separately up to EUR 250 million.

The credit facilities can be used for general corporate purposes. The maturity of both new facilities is 3.5 years. The margin of the facilities is determined based on Citycon's credit rating. Additionally, the margin is linked to achieving Citycon's 2030 key sustainability targets.

"Refinancing of Citycon's revolving credit facility was an important milestone completing our near-term refinancing and securing sufficient liquidity buffer for several years ahead.  The transaction also demonstrates our access to debt financing and the strength of our core bank relationships. Connecting Citycon's sustainability performance to our financing will further support Citycon's profile as a green investment.", says Executive Vice President and CFO Eero Sihvonen.

The mandated lead arrangers of the unsecured facility are Danske Bank A/S (coordinator), Nordea Bank Finland Plc, Pohjola Bank plc, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ). Respectively, the mandated lead arrangers of the secured facility are Danske Bank A/S (coordinator), Pohjola Bank plc, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ).

CITYCON OYJ   Stock Exchange Release   17 November 2020 at 16.15 hrs 

Helsinki, 17.11.2020 

CITYCON OYJ

For further information, please contact:
Eero Sihvonen
Executive VP and CFO
Tel. +358 50 557 9137
eero.sihvonen@citycon.com

Laura Jauhiainen
Head of Investor Relations
Tel. +358 40 823 9497
laura.jauhiainen@citycon.com


Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total almost EUR 4.5 billion. Citycon is No. 1 shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.

Citycon has investment-grade credit ratings from Moody's (Baa3), Fitch (BBB-) and Standard & Poor's (BBB-). Citycon Oyj's share is listed in Nasdaq Helsinki.

www.citycon.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/citycon-oyj/r/citycon-signed-total-eur-500-million-committed-syndicated-revolving-credit-facilities,c3238668

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