Citycon focuses on having a strong capital base with an appropriate gearing level, low cost of debt and flexible access to debt financing supported by investment-grade credit ratings. Sufficient and attractively priced financing gives us the capacity and flexibility to deliver on our strategy and to buy, sell or develop when opportunities arise. Long-term joint venture partnerships extend our capital base, spread the risk and leverage the expertise.

Long-term financing targets
Loan-To-Value (LTV): 40-45%
Debt portfolio's hedge ratio: 70-90%
Average loan maturity: >5 years

 Key financing figures  
30 Sep 2021

30 Sep 2020

31 Dec 2020
Fair value of debt MEUR 2 ,086.7 2 ,047.8 2 ,098.0
Available liquidity MEUR 832.7 588.6 447.0
Average loan maturity years 4.0 3.9 3.8
Loan to Value (LTV)  % 39.6 46.8 46.9
Interest cover ratio (financial covenant > 1.8) x 4.0 4.2 4.1
Net debt to total assets
(financial covenant < 0.60)
x 0.36 - 0.45
Solvency ratio (financial covenant < 0.65 )  x 0.37 0.05 0.46
Secured solvency ratio
(financial covenant < 0.25) 
x 0.00 0.04 0.02
Average interest-rate fixing period years 4.0 3.8 3.7
Interest rate hedging ratio % 88.9 81.2 83.5

 

Breakdown of loans