References/8 Jun 2021
Borenius advised Citycon Oyj on its EUR 350 million green hybrid bond offering
We advised Citycon Oyj in connection with its issuance of a EUR 350 million green hybrid bond. The issue date was 4 June 2021.
An amount equal to the net proceeds from the issuance of the hybrid bond will be allocated to the financing and refinancing of new and existing assets, developments or projects that meet Citycon’s green financing framework requirements and are in line with Citycon’s diversification through densification strategy that aims at increasing the share of residential and office space in its portfolio. The issuance will strengthen Citycon’s balance sheet and demonstrate its commitment to improving its investment grade credit ratings.
Citycon is a leading owner, manager and developer of mixed-use centers for urban living including retail, office space and housing in the Nordic region with assets that total approximately EUR 4.4 billion. Citycon’s centers are located in urban hubs with a direct connection to public transport. Placed in the heart of communities, Citycon’s centers are anchored by groceries, healthcare and services to cater to the everyday needs of customers.