Citycon signed SEK 1 020 million green 7-year term loan

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Nov 23, 2023, 08:46 ET

CITYCON OYJ Investor News 23 November 2023 at 15.30 hrs

HELSINKI, Nov. 23, 2023 /PRNewswire/ -- Citycon has signed a SEK 1 020 million (approx. EUR 89.5 million) fixed rate green term loan with pbb Deutsche Pfandbriefbank (pbb) and Landesbank Hessen-Thüringen Girozentrale (Helaba). The maturity of the term loan is 7 years. The term loan is fully secured by Liljeholmstorget Galleria in Stockholm, Sweden. The loan will be used for refinancing of the company's existing indebtedness as well as for the group's general financing needs.

"The new 7-year term loan highlights Citycon's access to debt financing with competitive terms and provides evidence that the secured loan market is functioning well. Additionally, the loan provides liquidity to continue to improve our maturity schedule and our balance sheet as the proceeds from the term loan will be used to refinance the company's near-term maturities," says Bret McLeod, Chief Financial Officer of Citycon.

CITYCON OYJ

For further information, please contact:
Sakari Järvelä
VP, Corporate Finance and Investor Relations
Telephone +358 50 387 8180
[email protected]

Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.2 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.

Citycon has investment-grade credit rating from Standard & Poor's (BBB-). Citycon's shares are listed on Nasdaq Helsinki Ltd.

www.citycon.com