Shearman & Sterling advised Citycon Oyj (Citycon) in connection with the offering of €200 million of 2.500 percent guaranteed notes due 2024. The notes were issued by Citycon’s wholly owned subsidiary Citycon Treasury B.V. and guaranteed by Citycon.
The net proceeds of the offering will be used to refinance existing indebtedness and for general corporate purposes, including for the development of existing properties.
Citycon is a leading owner, manager and developer of mixed-use centres for urban living including retail, office space and housing in the Nordic and Baltic region, managing assets that total approximately €4.5 billion and with market capitalization of approximately €1.0 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.