Citycon has today signed a seven-year unsecured term loan facility with OP-Pohjola Group for a minimum committed amount of 50 million.
The loan agreement includes an additional uncommitted seven-year term loan facility for a maximum amount of 25 million that can increase the total loan amount to a maximum of 75 million.
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 center redevelopment projects.
"Citycon is delighted to be able to access seven-year financing at a competitive financing cost. The facility structure can potentially provide Citycon with additional financing later in 2011 and would further diversify our sources of debt financing", comments Executive Vice President and CFO Eero Sihvonen.
Source: NASDAQ OMX Helsinki