The Board of Directors of Citycon Oyj has on 30 November 2009 resolved to issue a domestic unsecured bond up to a maximum amount of 50 million (the "Bond").
The Bond is offered for subscription in an offering mainly to Finnish retail investors and selected international investors. The issued aggregate principal amount of the Bond is expected to be confirmed on or about 14 December 2009.
The Bond will be issued in the form of book-entry notes in the OM system of Euroclear Finland Ltd. The notes are issued in principal amounts of 1,000 and redeemed at 100% of their principal amount. The minimum subscription amount of the notes is 5,000 and the subscription period of the notes is expected to commence on or about 3 December 2009 following the approval of the Offering Note by the Finnish Financial Supervisory Authority and to end on December 11, 2009. The Offering Note containing the terms and conditions of the Bond and other information on the Bond, is expected to be available on December 3, 2009 following the approval of the Finnish Financial Supervisory Authority. The maturity of the Bond is from December 16, 2009 through December 16, 2014, unless previously redeemed or repurchased from the secondary market. The interest rate for the Bond is 5.10%, payable annually on December 16 until maturity.
The company will apply for the listing of the Bond on the Official List of NASDAQ OMX Helsinki Ltd. Public trading in the notes is expected to commence on or about December 16, 2009.
The net proceeds of the offering received by Citycon are intended to be used to finance redevelopment projects and potential acquisitions in accordance with the company's investment strategy.
The lead manager of the issue is Nordea Bank Finland Plc.
Source: Citycon Oyj