Citycon signed total EUR 500 million committed syndicated revolving credit facilities
CITYCON OYJ Stock Exchange Release 17 November 2020 at 16.15 hrs
Citycon Group has today signed total EUR 500 million new committed syndicated multicurrency revolving credit facilities, to replace and extend its existing EUR 500 million facility maturing in December 2021. The new facilities consist of an unsecured facility and a secured facility, both separately up to EUR 250 million.
The credit facilities can be used for general corporate purposes. The maturity of both new facilities is 3.5 years. The margin of the facilities is determined based on Citycon's credit rating. Additionally, the margin is linked to achieving Citycon’s 2030 key sustainability targets.
"Refinancing of Citycon’s revolving credit facility was an important milestone completing our near-term refinancing and securing sufficient liquidity buffer for several years ahead. The transaction also demonstrates our access to debt financing and the strength of our core bank relationships. Connecting Citycon’s sustainability performance to our financing will further support Citycon’s profile as a green investment.”, says Executive Vice President and CFO Eero Sihvonen.
The mandated lead arrangers of the unsecured facility are Danske Bank A/S (coordinator), Nordea Bank Finland Plc, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ). Respectively, the mandated lead arrangers of the secured facility are Danske Bank A/S (coordinator), OP Corporate Bank, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ).