The maturity of the term loan is 7 years. The term loan is fully secured by Liljeholmstorget Galleria in Stockholm, Sweden. The loan will be used for refinancing of the company’s existing indebtedness as well as for the group’s general financing needs.

"The new 7-year term loan highlights Citycon’s access to debt financing with competitive terms and provides evidence that the secured loan market is functioning well. Additionally, the loan provides liquidity to continue to improve our maturity schedule and our balance sheet as the proceeds from the term loan will be used to refinance the company’s near-term maturities,” says Bret McLeod, Chief Financial Officer of Citycon.