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05.06.2018 15:50 CET
  • Stock exchange release

YIT Issues EUR 100 Million and EUR 150 Million Notes

YIT Corporation Stock Exchange Release June 5, 2018 at 4:50 p.m.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NEW NOTES, THE TENDER OFFER OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

YIT Issues EUR 100 Million and EUR 150 Million Notes

YIT Corporation issues senior unsecured notes of EUR 100 million and EUR 150 million. The EUR 100 million Notes mature on June 11, 2021, bear a fixed coupon interest of 3.150 per cent per annum, payable semi-annually and have an issue price of 100 per cent. The EUR 150 million Notes mature on June 11, 2023, bear a fixed coupon interest of 4.250 per cent per annum, payable semi-annually and have an issue price of 100 per cent. The Notes are callable before the final maturity.

“YIT and Lemminkäinen merged on February 1, 2018, and during the integration we strive to optimize the debt portfolio. With the proceeds from the new issue, we are redeeming outstanding bonds, extending the average maturity of outstanding debt as well as proactively and efficiently managing the debt portfolio,” says Ilkka Salonen, CFO at YIT.

YIT will apply for the listing of the Notes on Nasdaq Helsinki Ltd. The proceeds from the issue of the Notes will be used to repay and refinance the company’s outstanding EUR 100,000,000 6.250 per cent notes due 2020 and EUR 50,000,000 5.500 per cent notes due 2021, that it will purchase pursuant to the tender offer and voluntary total redemption announced on May 25, 2018, as well as for the company’s general corporate purposes. In addition, with the transaction the company extends the average maturity profile of outstanding debt.

OP Corporate Bank plc and Skandinaviska Enskilda Banken AB (publ) act as Joint Lead Managers for the issue of the Notes.

Additional information:

Ilkka Salonen, Chief Financial Officer, YIT Corporation, tel. +358 45 359 4434, ilkka.salonen@yit.fi

Hanna Jaakkola, VP, Investor Relations, YIT Corporation, tel. +358 40 566 6070, hanna.jaakkola@yit.fi

YIT CORPORATION

Hanna Jaakkola

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 pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy.www.yitgroup.com

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the New Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The New Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This communication does not constitute an offer of New Notes to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the New Notes. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (iii) high net worth entities falling within Article 49(2) of the Order and (iv) other persons to whom it may lawfully be communicated (all such persons together being referred to as "relevant persons"). In addition, this communication is, in any event only directed at persons who are "qualified investors" pursuant to the Prospectus Directive (2003/71/EC, as amended). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

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