Citycon begins tender offer for €300 million of 3.75% notes due 2020

By Susanna Moon

Chicago, Aug. 22 – Citycon Oyj said it tendering for up to €300 million of its €500 million 3.75% notes due 2020 as part of a refinancing.

Pricing will be set using a purchase yield of negative 0.1% for a purchase price of 106.961, assuming a settlement date of Sept. 3.

Citycon Treasury BV, a wholly owned subsidiary of the company, expects to issue new euro-denominated fixed-rate notes guaranteed by the company under its €1.5 billion euro medium-term notes program, with proceeds to be used to fund the tender offer, according to an announcement.

The tender offer will end at 11 a.m. ET on Aug. 30 and is conditioned on issuance of the new notes.

Deutsche Bank AG, London Branch (+44 20 7545 8011) and Nordea Bank AB (+45 61 61 29 96 or NordeaLiabilityManagement@nordea.com) are the dealer managers.

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or citycon@lucid-is.com).

Citycon is a Helsinki, Finland-based property investment company with a focus on retail centers.

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