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YIT Oyj — Capital/Financing Update 2018
Jun 5, 2018
3249_rns_2018-06-05_1ba2b695-8799-49b3-9a13-fea66d8d4a31.html
Capital/Financing Update
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YIT Announces Final Tender Offer Results for its outstanding notes due 2020 and 2021
YIT Announces Final Tender Offer Results for its outstanding notes due 2020 and 2021
YIT Corporation Stock Exchange Release June 5, 2018 at 5:00 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 Announces Final Tender Offer Results for its outstanding notes due 2020 and
2021
YIT Corporation announces today the final results of the invitation to the
holders of its EUR 100 million 6.250 per cent notes due March 25, 2020 (ISIN:
FI4000148937) and holders of its EUR 50 million 5.500 per cent notes due March
24, 2021 (ISIN: FI4000201181) to tender the 2020 and 2021 Notes for cash on the
terms and conditions set out in the tender offer memorandum dated May 25, 2018.
The aggregate nominal amount of the notes validly tendered by the noteholders
for purchase pursuant to the Tender Offer was EUR 98.8 million for the 2020
Notes and EUR 50 million for the 2021 Notes.
The acceptance by the company of any 2020 or 2021 Notes for purchase is subject
to, without limitation, the pricing of the issue of new notes as announced on
May 25, 2018. The company announces that the new issue condition has been
fulfilled and accordingly, pursuant to the terms and conditions of the tender
offer memorandum, any and all 2020 and 2021 notes validly tendered by the
noteholders for purchase will be accepted in full.
The purchase price of the 2020 Notes is EUR 103,125 per note with nominal amount
of EUR 100,000. The purchase price of the 2021 Notes is EUR 104,200 per note
with nominal amount of EUR 100,000. The company will also pay accrued and unpaid
interest on the 2020 and 2021 Notes (amounting to 1.319 per cent for 2020 Notes
and 1.176 per cent for 2021 Notes) accepted for purchase pursuant to the Tender
Offer.
The settlement date of the Tender Offer is set to June 11, 2018. All 2020 and
2021 Notes purchased by the Company will be cancelled. The 2020 Notes not
tendered pursuant to the Tender Offer will be voluntarily redeemed as announced
on May 25, 2018.
OP Corporate Bank plc and Skandinaviska Enskilda Banken AB (publ) act as Dealer
Managers, and OP Corporate Bank plc acts as Tender Agent for the Tender Offer.
Information in respect of the Tender Offer may be obtained from the Dealer
Managers.
Dealer Managers:
OP Corporate Bank plc, +358 10 252 1668, [email protected]
Skandinaviska Enskilda Banken AB (publ), +358 9 616 28263,
[email protected]
Tender Agent:
OP Corporate Bank plc
Additional information:
Ilkka Salonen, Chief Financial Officer, YIT Corporation, tel. +358 45 359 4434,
[email protected]
Hanna Jaakkola, VP, Investor Relations, YIT Corporation, tel. +358 40 566 6070,
[email protected]
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.