Pressreleases, rapporter och nyheter för Citycon Oyj
Citycon Treasury B.V. has announced its intention to redeem its outstanding NOK 1.4 billion 3.900% notes and NOK 1.0 billion 2.750% notes, both due in September 2025, following a successful tender offer. The redemption dates are set for January 2025, with the NOK 1.4 billion notes redeeming on the 30th and the NOK 1.0 billion notes on the 10th. The notes are listed on the Oslo Stock Exchange. Citycon is a Nordic real estate company with a focus on sustainable property management, and it holds an investment-grade credit rating. The announcement includes a regulatory notice emphasizing that it does not constitute an offer to sell securities in jurisdictions where it would be unlawful.
Citycon Oyj announced several resolutions regarding the remuneration of its Board of Directors. The Annual General Meeting on 19 March 2024 set annual fees for the board members. An Extraordinary General Meeting on 18 June 2024 decided that these fees, after taxes and charges, would be paid in two equal instalments in new or treasury shares. The first instalment was paid in July 2024. On 12 November 2024, another Extraordinary General Meeting elected a new board member, who will receive a fee proportional to their term. The Board of Directors, under authorization from the Annual General Meeting, resolved to issue new shares without consideration to pay the second instalment of fees and the new member's fee. A maximum of 79,455 new shares will be issued, deviating from shareholders' pre-emptive rights, as part of board remuneration. The share price is based on the average price on Nasdaq Helsinki from 21 November to 4 December 2024. The cash portion of the fee covers withholding tax. The new shares are expected to be registered on 18 December 2024 and listed on Nasdaq Helsinki on 19 December 2024, bringing the total number of shares to 184,231,295. Citycon is a Nordic real estate company focused on sustainable property management, with assets of approximately EUR 4 billion, and its shares are listed on Nasdaq Helsinki Ltd.
Citycon Oyj announced an offer for holders of its subsidiary Citycon Treasury B.V.'s notes to tender them for purchase by Citycon for cash, as detailed in a tender information document. On December 4, 2024, Citycon Treasury B.V. issued EUR 350 million in Senior Unsecured Green Notes, with proceeds partly funding the tender offer. The offer expired on December 9, 2024, and Citycon will buy all validly tendered notes, subject to conditions. Settlement is expected by December 13, 2024, and interest will be paid on the settlement date. The offer is now closed. Citycon is a major real estate owner and developer in the Nordic region, with a focus on sustainable property management.
Citycon Group has issued a EUR 350 million green bond through Citycon Treasury B.V., guaranteed by Citycon Oyj. The bond, with a 5.25-year maturity and a 5% fixed coupon, will mature on March 11, 2030. It is part of Citycon Treasury B.V.'s EUR 2.5 billion EMTN programme and will be listed on the Irish Stock Exchange. The proceeds will be used to repurchase certain NOK-denominated bonds, repay existing debt, and fund projects under Citycon's green financing framework, which supports sustainable and low-carbon economy initiatives. The bond issuance was highly successful, with demand nearly ten times the subscription, leading to an increase in the issue size from EUR 300 million to EUR 350 million. Citycon's CFO, Eero Sihvonen, highlighted the improved debt maturity profile and reduced refinancing risk. Deutsche Bank and Nordea acted as global coordinators, with Danske Bank, OP Corporate Bank, SEB, and Swedbank as joint bookrunners. Citycon is a Nordic real estate company with a focus on sustainable property management.
Citycon Group plans to issue a euro-denominated senior unsecured bond with an expected term of 5.25 years, totaling approximately EUR 300 million. This bond will be available to institutional investors, issued by Citycon Treasury B.V., and guaranteed by Citycon Oyj. The bond will be listed on the Irish Stock Exchange (Euronext Dublin) under Citycon's EUR 2.5 billion EMTN program. The issuance is part of Citycon's refinancing strategy, with proceeds intended for purchasing certain NOK-denominated bonds, repaying existing debt, and funding projects aligned with Citycon's green financing framework. This framework supports sustainable and low-carbon initiatives. Citycon has appointed several banks as Joint Lead Managers for this transaction. Citycon is a major real estate owner and developer in the Nordic region, focusing on sustainable property management. The company's shares are listed on Nasdaq Helsinki Ltd, and it holds an investment-grade credit rating from Standard & Poor's. The announcement emphasizes that the bond offer is not available in the United States, Australia, Canada, Japan, or any jurisdiction where it would be unlawful.
Citycon Oyj announced a tender offer for the holders of its subsidiary Citycon Treasury B.V.'s notes due September 2025, inviting them to sell their notes back to Citycon for cash at specified purchase prices. Concurrently, Citycon Treasury B.V. plans to issue new EUR-denominated senior unsecured notes with a 5.25-year tenor. The purpose of the tender offer is to improve Citycon's liability composition and debt maturity profile. The tender offer expires on 9 December 2024, with settlement expected around 13 December 2024. The full terms are detailed in the Tender Information Document. Citycon is a Nordic region real estate company with a focus on sustainable property management and has an investment-grade credit rating.