Lemminkäinen and YIT will complete the merger
LEMMINKÄINEN CORPORATION STOCK EXCHANGE BULLETIN 1.12.2009 AT 9:30 LEMMINKÄINEN AGREED ON THE FUTURE TERMS OF ITS FINANCIAL ARRANGEMENTS MADE IN THE SUMMER OF 2009 Lemminkäinen has reached an agreement with its banking consortium concerning the terms of the financial arrangements made in the summer of 2009. According to the new agreement the terms will continue mainly as initially negotiated and in accordance with the original maturity. Lemminkäinen entered into the negotiations after the
LEMMINKÄINEN CORPORATION STOCK EXCHANGE BULLETIN 1.12.2009 AT 9:30 LEMMINKÄINEN AGREED ON THE FUTURE TERMS OF ITS FINANCIAL ARRANGEMENTS MADE IN THE SUMMER OF 2009 Lemminkäinen has reached an agreement with its banking consortium concerning the terms of the financial arrangements made in the summer of 2009. According to the new agreement the terms will continue mainly as initially negotiated and in accordance with the original maturity. Lemminkäinen entered into the negotiations after the fine imposed by the Supreme Administrative Court was recognised in the third quarter of 2009 resulting in a breach of the covenant concerning the ratio of net debt and EBITDA. The financing arrangements include a EUR 150 million short-term line of credit, a EUR 120 million bullet loan and a bank guarantee for EUR 115 million TyEL pension premium loan. The credit facilities are subject to quarterly reviewed covenants concerning the ratio of Lemminkäinen's net debt to EBITDA and the Company's equity ratio. The ratio of Lemminkäinen's net debt to EBITDA continues on the initially negotiated level and may be at most 3.5 - 4.5. The covenant concerning the Company's equity ratio remains on the original level of 23% until the second quarter of 2010. From the third quarter of 2010 onwards the Company's equity ratio must exceed 30%. The loans mature in 2011 and have been arranged by Nordea, Pohjola Bank, Sampo Bank, SEB, Handelsbanken and Ilmarinen. LEMMINKÄINEN CORPORATION Corporate Communications ADDITIONAL INFORMATION: CFO Robert Öhman Lemminkäinen Corporation Tel. +358 2071 53515 DISTRIBUTION: NASDAQ OMX Helsinki Ltd Key media www.lemminkainen.com Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are building construction, infrastructure construction, technical building services, and building products. Net sales in 2008 were approx. EUR 2.5 billion, of which international operations accounted for over a quarter. The Group employs about 9,000 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com