November 19 (Renewables Now) - Citycon Oyj (HEL:CTY1S), a Finland-based developer of shopping centres in the Nordics and the Baltics, will issue EUR 350 million (USD 388m) in green capital securities.
The company said it will use the net proceeds from the issuance to finance or refinance new or existing assets that meet its green financing framework requirements. A portion will go towards purchasing certain euro-denominated bonds issued by the Citycon Group, debt repayment and for general corporate purposes.
Citycon has applied for the newly issued securities to be admitted to the Official List of the Irish Stock Exchange. The financial instruments will bear interest at a fixed interest rate of 4.496% per annum until the reset date of February 22, 2025. Thereafter, the rate will reset on each fifth anniversary.
The issue date is expected to be on or around November 22, 2019.
Citigroup Global Markets Limited, Danske Bank A/S, Swedbank AB and UBS Europe SE served as joint bookrunners.
(EUR 1.0 = USD 1.108)