Finnish property company Citycon said it has sold EUR 40 mln worth of bonds to investors to finance its development projects and potential acquisitions. 'The bond issue demonstrates Citycon's ability to raise long-term financing on competitive terms for its investments. The bond gathered subscriptions from some 400 investors and the amount issued can be considered substantial taking into account the main target group - retail investors', said CFO and executive vice president Eero Sihvonen.
Finnish property company Citycon said it has sold EUR 40 mln worth of bonds to investors to finance its development projects and potential acquisitions. 'The bond issue demonstrates Citycon's ability to raise long-term financing on competitive terms for its investments. The bond gathered subscriptions from some 400 investors and the amount issued can be considered substantial taking into account the main target group - retail investors', said CFO and executive vice president Eero Sihvonen.
Citycon's board of directors decided at end-November to issue a domestic unsecured bond up to a maximum amount of EUR 50 mln. The bond was offered for subscription in an offering mainly to Finnish retail investors and selected international investors.
The lead manager of the issue was Nordea Bank Finland.
