Capital Markets & Public M&A / 16 Mar 2021

Borenius advised Citycon Group on its EUR 350 million green bond issue and tender offer

We advised the Citycon Group in connection with its issuance of a EUR 350 million green bond offering. We also assisted Citycon with a tender offer on its outstanding EUR-denominated bond.

The issuer of the bond is Citycon Treasury B.V. and the guarantor is Citycon Oyj. The 7-year senior unsecured fixed-rate EUR-denominated bond matures on 12 March 2028. The bond is issued under the issuer’s EUR 1,500,000,000 EMTN programme, which was launched on 26 March 2020 and supplemented on 11 November 2020 and 1 March 2021.

The net proceeds from the offering will be used to finance and refinance eligible green assets and projects in the categories of green buildings, energy efficiency, renewable energy or waste management in accordance with Citycon’s established Green Finance Framework (GFF). Citycon’s GFF 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 centres for urban living that combine retail and office space with housing. Citycon Oyj’s shares are listed on Nasdaq Helsinki.

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