Helsinki, Finland, 2014-08-28 13:00 CEST (GLOBE NEWSWIRE) -- YIT CORPORATION INVESTOR NEWS AUGUST 28, 2014 AT 2:00 P.M.
YIT has concluded EUR 80 million of refinancing to improve the maturity profile
YIT has concluded EUR 80 million of refinancing to improve the maturity profile. The loans consist of a EUR 50 million pension loan maturing in August 2019 and a EUR 30 million term loan maturing in August 2017. The average interest of the new loans is below the average interest of YIT’s debt portfolio in the end of June 2014.
YIT’s net interest-bearing debt, in the end of June 2014, was EUR 860 million (IFRS), and EUR 66 million of the long-term loans mature in the second half of 2014. In addition to refinancing, reducing gearing and the level of interest bearing net debt by operative actions such as the ongoing capital release program is a top priority for the company.
For additional information, please contact:
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi
Jukka Kalliomäki, Group Treasurer, YIT Corporation, tel. +358 50 313 3228, jukka.kalliomaki@yit.fi
YIT CORPORATION
Sanna Kaje
Vice President, Investor Relations
Distribution: NASDAQ OMX, principal media, www.yitgroup.com
YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia. Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com