Efficient portfolio financing

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  
31 Mar 2021

31 Mar 2020

31 Dec 2020
Fair value of debt MEUR 2 115.7 2 ,034.4 2 ,098.0
Available liquidity MEUR 564.3 516.8 447.0
Average loan maturity years 4.5 4.0 3.8
Loan to Value (LTV)  % 46.5 45.7 46.9
Interest cover ratio (financial covenant > 1.8) x 4.0 4.3 4.1
Net debt to total assets
(financial covenant < 0.60)
x 0.45 - 0.45
Solvency ratio (financial covenant < 0.65 )  x 0.46 0.44 0.46
Secured solvency ratio
(financial covenant < 0.25) 
x 0.00 0.04 0.02
Average interest-rate fixing period years 4.5 3.8 3.7
Interest rate hedging ratio % 95.6 75.8 83.5


 

Updated

06.05.2021