Helsinki, Finland, 2014-10-20 14:00 CEST (GLOBE NEWSWIRE) -- YIT CORPORATION STOCK EXCHANGE RELEASE OCTOBER 20, 2014 AT 3.00 P.M.
YIT signed a EUR 300 million revolving credit facility
YIT has signed a new EUR 300 million syndicated unsecured revolving credit facility with its core banks to refinance the bilateral revolving credit facilities maturing in 2015 and 2016 granted by the same group of banks.
The committed credit facility matures on January 2, 2018 and has two financial covenants: equity ratio (IFRS) must be above 25.0% and gearing (IFRS) must be below 150.0%. The covenant concerning gearing (IFRS) is removed if YIT’s gearing (IFRS) is below 100.0% for two consecutive quarters. The facility will be used as a reserve for general corporate purposes.
The mandated lead arrangers and bookrunners for the facility include Handelsbanken, Danske Bank, Nordea Bank, Pohjola Bank, SEB and Swedbank. SEB and Pohjola acted as the co-ordinators for the facility.
For further information, please contact:
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, +358 50 390 6750, sanna.kaje@yit.fi
Jukka Kalliomäki, Group Treasurer, YIT Corporation, +358 50 313 3228, jukka.kalliomaki@yit.fi
YIT CORPORATION
Sanna Kaje
Vice President, Investor Relations
Distribution: NASDAQ OMX, Major 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