Citycon has today signed a 50 million unsecured floating rate term loan facility with Skandinaviska Enskilda Banken AB (publ.). The loan will mature in five years and the credit margin is in line with the other two loans signed in May and in June.
During the second quarter in 2010 Citycon's scheduled debt repayment totaled approximately 79 million. At the same time, Citycon has signed new loan agreements for 150 million in order to strengthen the company's available liquidity and provide means to finance future investments. The proceeds from the credit facility will be used to finance strategic investments such as shopping center redevelopment projects and refinancing of maturing debt.
Citycon's available committed debt facilities total 222 million taking this new loan into account meaning that the company has sufficient liquidity to cover all authorised investments and debt maturities for at least the next 12 months.