Citycon Group efficiently locations a 350 million euro inexperienced bond
HELSINKI, March 4, 2021 / PRNewswire / – CITYCON OYJ Grant press launch March 4, 2021 at 6.30 p.m.
Citycon Group has efficiently positioned a 350 million euros inexperienced bond (the “Bond”). The issuer of the bond is Citycon Treasury BV and the guarantor is Citycon Oyj. The 7-year EUR-denominated senior unsecured bond matures on March 12, 2028 and pays a set coupon of 1.625%.
The bond is issued below the 1,500,000,000 EUR EMTN program dated March 26, 2020 and accomplished on November 11, 2020 and March 1, 2021. Citycon Treasury BV will apply for the Bond to be admitted to official itemizing on the Irish Inventory Alternate (Euronext Dublin) and to commerce on its regulated market. The bond can be rated by S&P, Moody’s and Fitch in accordance with the scores of the businesses.
The online proceeds of the providing can be used to finance and re-finance eligible inexperienced property and tasks in accordance with the Inexperienced Financing Framework (GFF) established by Citycon. Citycon plans to make use of a portion of the web proceeds of the problem to buy sure euro-denominated bonds issued by the Citycon group that are validly supplied and accepted for buy in accordance with the takeover bids launched by Citycon on March 3, 2021.
Citycon’s inexperienced finance framework displays practices that assist the transition to a sustainable, low-carbon economic system via the event of inexperienced property. The funds allotted in accordance with the framework can be used to finance or refinance eligible inexperienced property within the classes inexperienced buildings, power effectivity, renewable energies or waste administration.
Chief Monetary Officer and Government Vice President Eero Sihvonen: “Demand for the bond was extraordinarily sturdy with an order e-book practically 5 occasions oversubscribed, and we subsequently determined to broaden the scale of the problem to 350 million in comparison with the preliminary situation dimension of 300 million euros. We’re delighted to see that the spreads have returned to pre-covid ranges, which has allowed Citycon to situation the bond with a really engaging coupon of 1.625%. The brand new situation premium is without doubt one of the lowest of any company Eurobond in 2021 and the coupon is the second lowest within the historical past of the corporate. This as soon as once more highlights the standard of our credit score and our entry to the capital market. With this profitable issuance, our debt maturity profile is considerably improved, refinancing threat is additional diminished and web liquidity improved, as we purpose to make use of the web proceeds to partially repay the bond due in 2022 and repay the bonds. different short-term money owed.
Danske Financial institution, Deutsche Financial institution, Nordea Financial institution and OP Company Financial institution acted as lively affiliate bookkeepers and SEB and Swedbank acted as passive affiliate bookkeepers.
For extra info, please contact:
Government Vice President and Chief Monetary Officer
Telephone. +358 50 557 9137
Vice-President, Technique and Investor Relations
Telephone. +358 40 823 9497
Citycon is a number one proprietor, supervisor and developer of mixed-use facilities for metropolis dwelling, together with retail, workplace and residential. We’re dedicated to sustainable property administration within the Nordic area with property totaling roughly 4.4 billion euros. Our facilities are situated in city facilities with a direct connection to public transport. Positioned within the coronary heart of communities, our facilities are anchored in groceries, well being care and providers to satisfy the each day wants of shoppers.
Citycon has earned funding grade credit score scores from Moody’s (Baa3), Fitch (BBB-) and Commonplace & Poor’s (BBB-). Citycon Oyj shares are listed on Nasdaq Helsinki.
Vital regulatory discover
This announcement doesn’t represent, nor type a part of, a suggestion or invitation to promote or situation, nor any solicitation of a suggestion to buy or subscribe for securities in United States or another jurisdiction and it (or any a part of this posting) or the very fact of its distribution don’t type the idea of, or might not be relied upon in reference to, or act as an inducement to enter into, any contract or dedication. Recipients of this announcement who intend to buy securities are reminded that this buy or subscription should be made solely on the idea of the data contained in any prospectus in last type printed in relation to such securities, which, if and when they’re launched, can be out there. on the Central Financial institution of Eire web site. The transaction described above and the distribution of this announcement and different info associated to the transaction in sure jurisdictions could also be restricted by legislation and individuals in possession of any paperwork or different info talked about herein ought to inform themselves. and adjust to such restriction. Any breach of those restrictions might represent a violation of the securities legal guidelines of such jurisdiction.
This communication doesn’t represent a suggestion to promote securities in United States, Australia, Canada, Japan or another jurisdiction the place doing so can be unlawful. Neither Citycon Oyj nor Citycon Treasury BV have registered or intend to register securities in any of those jurisdictions or make a suggestion to promote securities in any of those jurisdictions. Specifically, no securities of Citycon Oyj or Citycon Treasury BV have been or can be registered below the US Securities Act of 1933, as amended (the “Securities Act”), and such securities might not be supplied, bought or delivered in United States or to, or on behalf of or for the advantage of, nationals of the US (as outlined in Regulation S of the Securities Act) besides by advantage of an exemption or in reference to a transaction not topic to the necessities of Securities Act registration and in compliance with relevant state securities legal guidelines
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SOURCE Citycon Oyj