Citycon buys back $20 million of convertibles from Gazit-Globe

By Ashley Montgomery

Kansas City, Kan., Aug. 13 - Citycon Oyj. repurchased €20 million of convertible debentures from Gazit-Globe Ltd. on Aug. 13, according to a Gazit-Globe filing with the Tel Aviv Stock Exchange.

The convertible were purchased at a price of €1.004 per €1.00 par value for a total of €20.08 million.

Gazit-Globe said it also sold €22 million of the convertibles on Aug. 1 at a price of €1.005 for each €1.00 par value.

Following the transactions, Gazit-Globe no longer holds any Citycon debentures, but it does hold 133.46 million of Citycon's common shares.

Citycon is a Helsinki, Finland-based property investment company with a focus on retail centers. Gazit-Globe is a real estate company based in Tel Aviv.

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