Citycon refis loan and prints hybrid with ratings under threat

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By Mike Turner
18 Nov 2020

Citycon Group, the Nordic shopping centre company, has signed €500m of revolving credit facilities. It wants to shore up its balance sheet as it teeters on the edge of a junk rating.

The new loans are €250m-equivalent each, drawable in multiple currencies, with both maturing in 3.5 years. The difference between them is that one is secured, while the other is unsecured. 

Danske Bank coordinated the unsecured facility. Nordea, Pohjola, SEB and Swedbank joined the deal. Meanwhile, the secured facility had ...

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