Milbank Advises Citycon on €450M Green Notes and Tender Offers

Milbank LLP advised Citycon Oyj on its €450 million offering of 6.25-year 5.375% green notes due 2031 (the “Green Notes”) and tender offers to purchase for cash any and all of its €350 million guaranteed notes due 2026. The Green Notes were issued on April 8, 2025, and were admitted to listing on the regulated market of the Irish Stock Exchange, Euronext Dublin, and the tender offers settled on March 18, 2025, and April 22, 2025.

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 predominantly in urban markets in the Nordics. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 3.7 billion. Citycon’s centers 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.

The Milbank team was led by Corporate Finance and Securities partner David Dixter and associates Manel Mostefaoui and Luca Mirabile.