Final result of YIT Corporation’s voluntary invitation to tender of the floating rate bonds issued by the company
STOCK EXCHANGE RELEASE 30 May 2013 at 16.00 p.m.
FINAL RESULT OF YIT CORPORATION’S VOLUNTARY INVITATION TO TENDER OF THE FLOATING RATE BONDS ISSUED BY THE COMPANY
The offer period for the voluntary invitation to tender made and disclosed by YIT Corporation (“YIT”) on 21 May 2013 for the floating rate notes issued by the company YIT Corporation EUR 50,000,000 Floating Rate Notes due August 2014, ISIN code FI4000037874 (hereinafter ”Notes due August 2014”) and YIT Corporation EUR 50 million floating rate bond 1/2007, ISIN code FI0003024216 (hereinafter ”Notes due March 2014”) expired on 29 May 2013.
According to the final result of the invitation to tender, the percentage share of the Notes due August 2014 of all the Notes due August 2014 whose holders have tendered in the invitation to tender, is approximately 0.2 per cent. The outstanding principal amount of the remaining Notes due August 2014 will after the settlement date (as specified below) of the invitation to tender thus be EUR 49,900,000.
The percentage share of the Notes due March 2014 of all the Notes due March 2014 whose holders have tendered in the invitation to tender, is approximately 42.6 per cent. The outstanding principal amount of the remaining Notes due March 2014 will after the settlement date (as specified below) of the invitation to tender thus EUR be 28,700,000.
YIT will complete the invitation to tender in accordance with its terms and conditions. YIT reserves the right to re-open the offer period according to the terms set out in the offer memorandum.
The sales and purchases to complete the invitation to tender will be executed on or about the settlement date 24 June 2013. The sales and purchases of both series of notes will take place as OTC trades outside of public trading in the Helsinki stock exchange.
The consideration for each note in respect of the Notes due August 2014 of EUR 100,100 together with any accrued but unpaid interest on such note based on to the terms of the notes up to the settlement date 24 June 2013 (excluding the settlement date) and the consideration for each note in respect of the Notes due March 2014 of EUR 50,050 together with any accrued but unpaid interest on such note based on the terms of the notes up to the settlement date 24 June 2013 (excluding the settlement date) will be paid to the noteholders who have accepted the invitation to tender on or about the above mentioned settlement date, on which date the title to the notes in question will also pass to YIT.
In addition to the invitation to tender for the Notes due August 2014 and Notes due March 2014, YIT announced on 21 May 2013 the commencement of an invitation to tender for the Floating Rate Bonds due September 2016, ISIN code SE0001826686 (hereinafter ”Notes due September 2016”) issued in Sweden with a current principal amount of EUR 25,010,000. According to the final result of the invitation to tender, the percentage share of the Notes due September 2016 of all the Notes due September 2016 whose holders have tendered in the invitation to tender, is approximately 24.0 per cent. The outstanding principal amount of the remaining Notes due September 2016 will after the settlement date 24 June 2013 of the invitation to tender thus be EUR 19,007,600.The details presented above regarding the invitation to tender of Notes due August 2014 and Notes due March 2014 do not apply to the invitation to tender of the Notes due September 2016, concerning which a separate offer memorandum has been prepared.
Helsinki, 30 May 2013
YIT Corporation
Board of Directors
For further information, please contact:
Timo Lehtinen, CFO, YIT Corporation, tel. +358 45 670 0626, timo.lehtinen@yit.fi
Hanna-Maria Heikkinen, Vice President, Investor Relations, YIT Corporation, tel. +358 40 826 2172, hanna-maria.heikkinen@yit.fi
Janne Tallqvist, Group Treasurer, YIT Corporation, tel. +358 50 512 4913, janne.tallqvist@yit.fi
Distribution:
NASDAQ OMX Helsinki
Major media
www.yitgroup.com
DISCLAIMER
This announcement is not an offer of securities for sale in any jurisdiction.
No securities are being registered under the US Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of securities is being made in the United States.
This release includes forward-looking statements. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this communication, including, without limitation, those regarding the demerger plan and its execution. By their nature, forward looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Such statements are based on numerous assumptions and may differ materially from (and be significantly more negative than) those made in, or suggested by, the forward-looking statements contained in this release