References/8 Mar 2024

Borenius advised Citycon Group on its EUR 300 million green bond issue and tender offer

We advised Citycon on the Finnish law aspects of its EUR 300 million offering of a 5-year 6.500% green bond due 2029 and tender offer to purchase for cash any and all of its EUR 310 million 2.50% notes due 2024. The green bond was issued under the EUR 2,500,000,000 EMTN programme recently established by Citycon, and admitted to listing on the regulated market of the Irish Stock Exchange, Euronext Dublin. The orderbook for the green bond was approximately seven times over-subscribed.

The net proceeds from the green bond will be used to refinance existing debt as well as for such general corporate purposes of Citycon Group that meet Citycon’s green financing framework requirements, which enables Citycon to integrate sustainability objectives in its financing activities. Citycon’s green financing framework reflects practices that support the transition to a sustainable and low carbon economy through the development of green assets.

Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.0 billion. Citycon’s centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and they are anchored by grocery, healthcare and other services that cater to the everyday needs of customers. Citycon Oyj’s shares are listed on Nasdaq Helsinki Ltd.

Share on LinkedInTweet about this on TwitterShare on Facebook

Service areas

Team

Juha Koponen

Partner

Helsinki, London, New York

Jere Onnela

Associate

Helsinki