EUR 360m syndicated loan facility for Citycon
On 25 November, Citycon Oyj signed an agreement relating to a EUR 360m syndicated loan facility. An additional EUR 10 million credit limit has also been agreed with Nordea Bank Finland Plc. The loan matures in seven years. Nordea Bank Finland Plc acted as the credit coordinator and lead manager together with managers Svenska Handelsbanken AB of Sweden and EuroHypo AG of Germany.

The loan facility is intended to broaden Citycon’s finance base, to secure future investments and to restructure Citycon’s existing loan stock. Once the facility is implemented, EuroHypo AG, one of Europe’s leading banks specialising in property finance, will join Nordea and Svenska Handelsbanken as Citycon’s principal financers. Under the terms of the loan facility signed, Citycon’s equity ratio must be at least
35 per cent (earlier 40%) and the interest coverage ratio at least 1.8 per cent (2%). The arrangement will make at least EUR 150m available for Citycon to finance future new property investments.

Citycon is Finland’s leading listed property investment company specialising in properties used by the retail trade. The focus of Citycon’s business is in the Helsinki Metropolitan Area and in major regional centres.

Helsinki 25 November 2002

Citycon Oyj

Further information from: Managing Director Petri Olkinuora, tel. +358 400 333 256, Deputy Managing Director Olli-Pekka Mikkola, tel. +358 400 601 089

Distribution: The Helsinki Exchanges and main media

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