YIT Announces Indicative Tender Offer Results for its outstanding notes due 2020 and 2021

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 Indicative Tender Offer Results for its outstanding notes due 2020 and 2021

YIT Corporation announces today the indicative results of the invitation to the holders of its EUR 100 million 6.250 per cent notes due March 25, 2020 (ISIN: FI4000148937) and 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 offer period for the Tender Offer expired at 4:00 p.m. Finnish time (EEST) on June 1, 2018. At the expiration deadline, the aggregate nominal amount of the 2020 and 2021 Notes validly tendered by the noteholders for purchase was EUR 98.8 million for the 2020 Notes and EUR 50 million for the 2021 Notes.

Pursuant to the Tender Offer, the company has reserved the right, in its sole discretion, to decide on the acceptance for purchase of the 2020 and 2021 Notes, including not to accept any purchase of the tendered Notes. Whether the company will purchase any 2020 or 2021 Notes is subject to, without limitation, the pricing of the issue of the New Notes and the execution of an Issuance Agreement between the Dealer Managers and the company. If the company chooses to accept the 2020 and 2021 Notes for tender pursuant to the Tender Offer, tender instructions will be accepted in full. The company expects to announce the final results of the Tender Offer, and whether the new issue condition has been fulfilled or not, as soon as feasible, but at latest on June 11, 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, liabilitymanagement@op.fi

Skandinaviska Enskilda Banken AB (publ), +358 9 616 28263, SEBLiabilityManagement@seb.se
 

Tender Agent:

OP Corporate Bank plc

Additional information:

Ilkka Salonen, Chief Financial Officer, YIT Corporation, tel. +358 45 359 4434, ilkka.salonen@yit.fi

Hanna Jaakkola, VP, Investor Relations, YIT Corporation, tel. +358 40 566 6070, hanna.jaakkola@yit.fi

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.