Citycon has today signed a 7-year unsecured term loan facility with OP-Pohjola Group for a minimum committed amount of EUR 50 million. The loan agreement includes an additional uncommitted 7-year term loan facility for a maximum amount of EUR 25 million that can increase the total loan amount to a maximum of EUR 75 million.
The new term loan will strengthen the company’s available liquidity and provides means to finance Citycon’s growth with the help of long term financing. The proceeds from the credit facility will be used to finance strategic investments such as shopping centre redevelopment projects.
“Citycon is delighted to be able to access 7-year financing at a competitive financing cost. The facility structure can potentially provide Citycon with additional financing later in 2011 and would further diversify our sources of debt financing”, comments Executive Vice President and CFO Eero Sihvonen.
Helsinki, 26 August 2011
For further information, please contact:
Eero Sihvonen, Executive Vice President and CFO
Tel +358 20 766 4459 or +358 50 557 9137
NASDAQ OMX Helsinki
Citycon Signs a New EUR 50 million 7-year Term Loan
Stock exchange releases - 26 August 2011