Citycon signs €600 million syndicated loan facility (FI)

Citycon Oyj has today signed a €600 million credit facility agreement with an international bank group. The facility consists of a seven year amortizing term loan of €435 million, and a €165 million revolving credit facility of up to five years.

The facility will be used to refinance Citycon's existing credit facility of originally €450 million, raised in 2004 and maturing in 2009, and to finance company's property acquisitions.
The initial interest margins of the facility are 0.5% - 0.675% and the new facility will reduce Citycon's annual financing costs by about €0.7 million compared to the previous facility and will extend the average loan maturity of Citycon's loan portfolio.
The mandated lead arrangers of the facility are Nordea Bank Finland Plc, Danske Bank A/S, Eurohypo AG and OKO Bank plc with five additional banks joining in the bank group. The facility was substantially oversubscribed at syndication.

Source: Citycon Oyj

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