Capital Markets / 26 Nov 2019

Borenius advised Citycon on its inaugural EUR 350 million green hybrid bond offer and on concurrent bond tender offers

We advised Citycon Oyj (Citycon) in connection with its issuance of a EUR 350 million hybrid green bond offering. The transaction closed on 22 November 2019.

The proceeds of this inaugural green bond offering will be used, in part, to fund new or existing assets, developments or projects that meet the requirements Citycon’s Green Financing Framework.

In connection with the new issue of the EUR 350 million hybrid green bond, we also assisted Citycon with cash tender offers on some of its outstanding EUR and NOK denominated bonds.

Citycon is a leading owner, manager and developer of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total approximately EUR 4.4 billion and with a market capitalisation of approximately EUR 1.7 billion. Citycon is the number one shopping centre in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.

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