Shearman And Sterling

News November 26, 2019

Citycon’s Inaugural €350 Million Green Capital Securities And Concurrent Tender Offer

Shearman & Sterling advised Citycon Oyj (Citycon) in connection with its issuance of €350 million subordinated fixed to reset rate 5.25 year non-call undated green capital securities. The transaction closed on November 22, 2019.

The proceeds of this inaugural green bond offering will be used, in part, to fund new or existing assets, developments or projects that meet the Citycon Green Financing Framework requirements.

Shearman & Sterling also advised Citycon in connection with its €193 million cash tender offer for its euro denominated 3.75 percent notes due 2020 and Citycon Treasury B.V’s 2.375 percent guaranteed notes due 2022.

Citycon is a leading owner, manager and developer of urban grocery-anchored shopping centers in the Nordic and Baltic regions, managing assets that total approximately €4.4 billion and with market capitalization of approximately €1.7 billion. Citycon is the number-one shopping center in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.

The Team