Citycon signs €650 million replacement multicurrency credit facility

By Marisa Wong

Los Angeles, May 2 – Citycon Oyj signed a €650 million new committed syndicated multicurrency credit facility to replace and extend its existing €500 million facilities maturing in May 2024, according to a press release.

The new facility consists of a €400 million revolver and a €250 million term loan and is fully secured by Iso Omena and four Norwegian assets.

The maturity of both new facilities is three years, with a one-year extension option.

Pricing is determined based on Citycon’s credit rating. Additionally, the margin is linked to achieving key sustainability targets.

The mandated lead arrangers and bookrunners of the facility are Danske Bank A/S, Skandinaviska Enskilda Banken AB (publ), OP Corporate Bank plc and Swedbank AB (publ), with Danske and SEB as coordinators. Nordea Bank Finland plc is a mandated lead arranger, and Deutsche Bank AG is a lead arranger.

The credit facilities can be used for general corporate purposes.

Citycon is a Helsinki, Finland-based owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces located in urban hubs.

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