Borenius advised Citycon Oyj on the tender offers for its two green capital securities

We advised Citycon on the Finnish law aspects of the tender offers for its EUR 265,721,000 green capital securities issued in June 2024 and EUR 350,000,000 green capital securities issued in November 2019. The price paid for the securities was determined pursuant to a modified Dutch auction procedure, and the company accepted for purchase EUR 34,650,000 in aggregate principal amount of securities validly tendered pursuant to the offers. The purpose of the offers was, amongst other things, to optimise the company’s capital structure.

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 3.8 billion. Citycon’s centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.