Citycon Oyj announces update on conditional tender offer for NOK-denominated bonds issued by Citycon Treasury B.V
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014
Citycon Oyj (Citycon) announced on 7 November 2019 a conditional tender offer for up to NOK 900 million nominal outstanding amount of the NOK 1,250 million bond issue CITYT01 issued by its wholly owned subsidiary Citycon Treasury B.V. which matures on 1 March 2021.
The conditional tender offer expired at 17:00 CET on 15 November 2019 (the Expiration Date). As of the Expiration Date, NOK 1,100,000,000 in aggregate nominal amount of the CITY01 bonds had been validly tendered pursuant to the conditional tender offer.
Citycon hereby announces that it has decided to postpone (i) the Acceptance Deadline (as defined in the announcement published on 7 November 2019) for the conditional tender offer until 19 November 2019, upon which Citycon will decide on a purchase price (the Purchase Price) and consequently the total amount of CITYT01 bonds to be purchased (if any); and (ii) the payment date, upon which the Purchase Price including accrued interest will be paid out to tendering bondholders. Citycon will make a further announcement by no later than 19 November 2019 confirming the purchase price of the bonds and the revised payment date.
For the avoidance of doubt, Citycon is not obligated to buy any bonds and may refrain from accepting all offers for any reason, including if the offered price/volume is not deemed attractive or if the New Notes (as defined in the announcement published on 7 November 2019) are not successfully priced by the Acceptance Deadline, and in such case the process will terminate without any Purchase Price being determined. Subject to applicable law, Citycon may extend the Expiration Date or terminate the tender offer process at any time.
Danske Bank A/S is acting as Sole Arranger for the conditional tender offer process.
For further information, please contact:
Executive VP and CFO
Tel. +358 50 557 9137
IR and Communications Director
Tel. +358 40 838 0709
Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total approximately EUR 4.4 billion. Citycon is the number one shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.
Citycon has investment-grade credit ratings from Moody's (Baa3) and Standard & Poor's (BBB-). Citycon Oyj’s shares are listed on Nasdaq Helsinki Ltd. stock exchange.
Important regulatory notice
The tender offer process and the distribution of this announcement and other information in connection therewith may be restricted by law in certain jurisdictions. Citycon does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
This information is subject to the disclosure requirements set out in section 5-12 of the Norwegian Securities Trading Act.