Borenius advised the arrangers on YIT’s issue of EUR 120 million senior secured green notes and tender offer of its outstanding notes

We advised the arrangers in connection with YIT Corporation’s (“YIT”) issuance and listing of senior secured green floating rate notes in a nominal amount of EUR 120 million and the simultaneous voluntary public cash tender offer of its outstanding EUR 100 million senior secured green fixed rate notes due 2026 (the “2026 Notes”).

The new notes have an interest rate of 3-month EURIBOR plus 4.75%, and they will mature in 2028. The new notes are secured by transaction security granted by YIT and certain of its group companies that currently also secure YIT’s existing revolving credit facility, term loan facility, the 2026 Notes, and the EUR 100 million senior secured green floating rate notes due 2027. The new notes will be listed on the Nasdaq Helsinki main market.

Danske Bank A/S, OP Corporate Bank plc, and Skandinaviska Enskilda Banken AB (publ) acted as joint global coordinators and joint bookrunners, and Swedbank AB (publ) acted as joint bookrunner for the issue of the new notes.

YIT is a leading Finnish construction and development company that employs approximately 4,100 professionals in eight countries. YIT’s shares are listed on Nasdaq Helsinki.