LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 23 MARCH 2016 AT 1:30 P.M.
LEMMINKÄINEN HAS AGREED ON AMENDED TERMS OF ITS FINANCIAL AGREEMENT
Lemminkäinen Corporation has agreed on amending the terms of its EUR 185 million committed revolving credit facility by extending its maturity and by increasing its amount to EUR 260 million of which EUR 75 million is available when agreed conditions are met. The amended revolving credit facility will mature during the first quarter in 2018. There are currently no drawn amounts under Lemminkäinen’s committed revolving credit facilities. Nordea Bank Finland Plc, Danske Bank A/S, Helsinki Branch and Pohjola Bank plc are the mandated lead arrangers and lending banks.
According to the amended agreement, the previous restriction of a maximum of 40 per cent dividend distribution of the Group’s net profit has been removed. The removal of the restriction will be applicable starting from the financial year 2016.
The revolving credit facility includes two covenants reviewed on a quarterly basis: equity ratio and net debt to EBITDA ratio. The facility is unsecured.
Ilkka Salonen, CFO
Tel. +358 2071 53304
Nasdaq Helsinki Ltd
Lemminkäinen is an expert in complex infrastructure construction and building construction in Northern Europe and one of the largest paving companies in its market. Together with our customers and 4,800 professionals we employ, we build a sustainable society. In 2015, our net sales were EUR 1.9 billion. Lemminkäinen Corporation’s share is quoted on Nasdaq Helsinki Ltd. www.lemminkainen.com