HELSINKI, July 25, 2023 /PRNewswire/ — Citycon has updated its EUR 400 million Commercial Paper programme into Green format, and on 25 July 2023 issued its first Green Commercial Paper. The issue is completed under Citycon’s existing Green Financing Framework and is also the first ever Green Commercial Paper issued in the Finnish market.
Sustainability is a key cornerstone for Citycon to create long-term value for its investors and to the communities in which it operates. Citycon has been at the forefront of green financing in the real estate sector: Citycon has a total of EUR 1.1 billion of green bonds and green capital securities outstanding under Citycon’s Green Financing Framework and issued a EUR 650 million sustainability-linked credit facility issued in April.
“Sustainability is embedded in all of Citycon’s operations. We are actively working towards turning all our debt financing into green or sustainability-linked, so adding the ability to also issue green commercial papers is an important step towards that goal. We are delighted to be able to do this as the first issuer in Finland, and trust this will also be an important new green asset class for Finnish investors”, says Sakari Järvelä, Head of Treasury and Investor Relations of Citycon.
Citycon’s green financing framework reflects practices that support the transition to a sustainable and low carbon economy through the development of green assets. Proceeds allocated in accordance with the framework will be used to finance or re-finance eligible green assets in categories green buildings, energy efficiency, renewable energy or waste management. The framework together with the external second opinion are available on Citycon’s website at https://www.citycon.com/investors/financing/green-financing.
For further information, please contact:
VP, Corporate Finance and Investor Relations
Telephone +358 50 387 8180
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 4.2 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 rating from Standard & Poor’s (BBB-). Citycon’s shares are listed on Nasdaq Helsinki Ltd.
SOURCE Citycon Oyj
Originally published at https://www.prnewswire.com/news-releases/citycon-completed-the-first-green-commercial-paper-issue-in-finland-301885120.html
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