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.
| Key financing figures | 30 Jun 2023 | 30 Jun 2022 | 31 Dec 2022 | |
| Fair value of debt | MEUR | 1776.7 | 1 797.0 | 1781.7 |
| Available liquidity | MEUR | 442.8 | 533.8 | 577.7 |
| Average loan maturity | years | 2.9 | 3.7 | 3.2 |
| Loan to Value (LTV) | % | 43.0 | 40.8 | 41.4 |
| Interest cover ratio (financial covenant > 1.8) | x | 3.7 | 4.2 | 4.0 |
| Net debt to total assets (financial covenant < 0.60) |
x | 0.40 | 0.39 | 0.39 |
| Solvency ratio (financial covenant < 0.65 ) | x | 0.42 | 0.40 | 0.40 |
| Secured solvency ratio (financial covenant < 0.25) |
x | 0.06 | 0.00 | 0.00 |
| Average interest-rate fixing period | years | 2.5 | 3.7 | 3.2 |
| Interest rate hedging ratio | % | 88.3 | 99.7 | 93.0 |
Debt fixed
Of our assets unencumbered
No near term maturities until
