OSLO: Citycon Group intends to issue a NOK-denominated senior unsecured bond in one or more tranches with a maturity of approximately 3-5 years in an amount of up to NOK 800 million, a news release said.
The bond would be offered mainly to Nordic institutional investors and would be issued by Citycon Treasury B.V. and guaranteed by Citycon Oyj.
Citycon Treasury B.V. would apply for the bond to be admitted to the Official List of the Oslo Stock Exchange (Oslo Børs) and to trading on its regulated market. The bond would be issued under the issuer’s EUR 1.5 billion EMTN programme dated 26 March 2020.
The net proceeds of the Green Bond will be used to finance and re-finance Eligible Green Assets and Projects in accordance with Citycon’s established Green Finance Framework (GFF) including refinancing of existing NOK debt.
Citycon’s green financing framework reflects practices that support the transition to a sustainable and low carbon economy through the development of green assets. Proceeds allocated in accordance with the framework will be used to finance or re-finance eligible green assets in categories green buildings, energy efficiency, renewable energy or waste management.
Citycon Group has mandated Danske Bank, Nordea, SEB and Swedbank as Joint Bookrunners. Citycon Group will announce further information after the placement of the bond.
Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total almost EUR 4.5 billion. Citycon is No. 1 shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.
Citycon has investment-grade credit ratings from Moody’s (Baa3), Fitch (BBB-) and Standard & Poor’s (BBB-). Citycon Oyj’s share is listed in Nasdaq Helsinki.
