Subject: ACC
Citycon continues strategic bond repurchase with additional EUR 34 million purchase resulting in total year-to-date bond repurchase of EUR 59 million
CITYCON OYJ Investor News 30 June 2022 at 18:30 hrs
HELSINKI, June 30, 2022 /PRNewswire/ -- Citycon continued its strategic capital allocation program by repurchasing approx. EUR 25 million of its bond maturing in 2024 and approximately EUR 9 million of its bond maturing in 2027. In addition to the previously disclosed EUR 25 million bond repurchase, Citycon has now completed a total of EUR 59 million bond repurchases during 2022.
"In addition to reducing interest expense, these repurchases further strengthen our strong credit profile, reduce refinancing risk, and improve our well-laddered maturity schedule. They also provide an excellent risk-adjusted return for the proceeds from our recent Norwegian dispositions ", says Bret McLeod, Citycon´s Chief Financial Officer.
CITYCON OYJ
For further information, please contact:
Sakari Järvelä
Vice President, Corporate Finance and Investor Relations
Tel. +358 50 387 8180
[email protected]
Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.5 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.
Citycon has investment-grade credit ratings from Moody's (Baa3) and Standard & Poor's (BBB-). Citycon Oyj's shares are listed on Nasdaq Helsinki.
www.citycon.com
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