29February 2024
February.2024
Citycon, a subsidiary of G City operating in Northern Europe, completed a bond issuance in which it raised euro 300 million.
The bonds are for 5 years and bear a fixed interest rate of 6.5%. The issuance was over subscribed with high demand of around euro 2.1 billion, 7 times the amount the company sought to raise.
The proceeds from the issuance will be used to refinance debt, mainly to refinance Citycon's short series that matures this year, as well as to reduce other short-term debt and for other general uses.
Last week, Citycon completed an equity issuance of euro 48.2 million which also over subscribed with significant demand of around euro 200 million.
Total demand in the two issuances made by Citycon last week amounted to around NIS 9 billion.
