Shearman & Sterling advised Citycon in connection with an offering of €350 million 1.250 percent guaranteed notes due 2026. 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 mainly be used to partially repay or refinance Citycon’s existing indebtedness and for general corporate purposes, including the development of existing properties, the acquisition of new properties and an increase in investments in existing joint ventures.
Citycon is a leading owner, manager and developer of urban grocery-anchored shopping centers in the Nordic and Baltic regions, with assets under management totalling approximately €4.7 billion. Headquartered in Helsinki, Finland, Citycon is the number-one shopping center owner in Finland and among the market leaders in Norway, Sweden and Estonia.