Citycon signs a new EUR 50 million term loan
Citycon has today signed a EUR 50 million unsecured floating rate term loan
facility with Pohjola Bank plc. The loan will mature in five years.
The new term loan will strengthen the company's available liquidity and provides
means to finance Citycon's growth with the help of long term financing. The
proceeds from the credit facility will be used to finance strategic investments
such as shopping centre redevelopment projects and refinancing of maturing debt.
"The facility was arranged successfully, demonstrating Citycon's ability to
finance its growth as planned in cooperation with our relationship banks. The
total fixed financing cost for five years after an interest rate swap was below
4 per cent, and clearly below the last reported weighted average interest rate
of Citycon", comments Executive Vice President and CFO Eero Sihvonen.
Helsinki, 31 May 2010
CITYCON OYJ
Petri Olkinuora
CEO
For further information, please contact:
Eero Sihvonen, Executive Vice President, CFO
Tel +358 20 766 4459 or +358 50 557 9137
eero.sihvonen@citycon.fi
Distribution:
NASDAQ OMX Helsinki
Major media
www.citycon.com
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