CITYCON OYJ Investor News 16 May 2024 at 9.00 hrs
Citycon has agreed with the lenders on a one-year extension of its EUR 650 million committed syndicated multicurrency credit facility by utilizing its one-year extension option. The facility consists of EUR 400 million revolving credit facility and a EUR 250 million term loan. The new maturity date for the facility is in April 2027. Additionally, Citycon has renegotiated the SEK 2,060 million term loan that was acquired with Kista Galleria and extended its tenor to five years. The term loan is now maturing in May 2029.
“Extending Citycon’s revolving credit facility and term loans were important actions to improve our credit maturity profile and to secure a sufficient liquidity buffer for several years ahead. Improving the weighted average loan maturity enhances our credit metrics and supports our investment grade credit rating. These transactions also demonstrate our access to debt financing and the strength of our core bank relationships,” says Sakari Järvelä, Citycon’s CFO.
CITYCON OYJ
For further information, please contact:
Sakari Järvelä
CFO
Tel. +358 50 387 8180
sakari.jarvela@citycon.com
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 4.1 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 ratings from Standard & Poor's (BBB-). Citycon Oyj’s shares are listed on Nasdaq Helsinki.
www.citycon.com