In connection with the planning of the merger of YIT and Lemminkäinen, YIT agreed on bridge financing agreement which has been available since the execution of the merger on February 1, 2018. YIT has now evaluated its liquidity position and financial structure, and come to the conclusion that this EUR 240 million financing facility is no longer needed. The company has cancelled the facility on February 20, 2018.
The company’s remaining EUR 300 million committed revolving credit facility is currently undrawn.
YIT sent the stock exchange release regarding the financial arrangements on February 1, 2018.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, email@example.com
Ilkka Salonen, CFO, YIT Corporation, tel. +358 40 570 1313, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our combined annual revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com