NIB's loan is an important addition to the project, which will cost in total EUR 180 million. The maturity of the loan is 10 years.
The energy consumption of buildings and properties in the industrial countries is estimated at up to 40 per cent.
"The new centre will take into account principles of
sustainable property development by using the newest technology, with
solutions for energy efficiency and water use. District heating and
cooling will also enhance energy efficiency", says NIB's Vice-President
Nils E. Emilsson.
Citycon is aiming for the international LEED rating
(Leadership in Energy and Environment Design) for the construction of
the shopping centre. The LEED rating requires, among other things,
sustainable site development, water savings, energy efficiency and
environmental-friendly choices of materials and resources.
"We are very happy to be able to fulfil the tight
requirements of NIB's lending in the current market situation. This is
a concrete example of the importance and benefits of sustainable
activities. Sustainable site development has secured us long-term
financing from a highly valued lender", says Citycon's Chief Financial
Officer Eero Sihvonen.
The shopping centre in Liljeholmen is in the midst
of a growing residential area with excellent public transportation
connections. The building work on the new shopping centre started in
May 2007 and when it is finalised, according to schedule in October
2009, the centre will have a leasable area of 28,000 square metres for
some 90 businesses. The shopping centre in Liljeholmen is Citycon's
largest single development project.
The loan agreement was signed 24 June 2008 in Helsinki.
For more information, please contact:
NIB Kim Krokfors, Senior Manager, telephone +358 10 618 0517
Citycon Oyj Eero Sihvonen, CFO, telephone +358 50 579 137
Ulf Attebrant, Vice President, Swedish Operations, telephone +46 8 522 80 313
Nordic Investment Bank (NIB)
NIB is a multilateral financial
institution owned by eight member countries: Denmark, Estonia, Finland,
Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances
private and public projects in and outside the member countries. NIB
has the highest possible credit rating, AAA/Aaa, with the leading
rating agencies Standard & Poor's and Moody's.
Citycon Oyj
Citycon is an expert and partner in retail premises, serving consumer customers together with its
tenants. The aim is to produce
versatile, attractive, inspirational and functional shopping
environments for consumers. Citycon is the market leader in the Finnish
shopping centre business, owning a total of 22 shopping centres in
Finland. In Sweden, Citycon owns eight shopping centres and, in the
Baltic Countries, three. In addition, the company owns 53 other retail
properties, 46 in Finland and seven in Sweden.
P.O.Box 249 (Fabianinkatu 34), FI-00171 Helsinki, FINLAND, +358 10 618 001, [email protected]