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YIT holders OK coupon bump for notes due 2015, 2016 in demerger plan
By Susanna Moon
Chicago, May 31 - YIT Corp. said bondholders approved amendments to its €100 million of 4.823% notes due 2015 and its €100 million of 4.75% notes due 2016.
The meetings for the two series of notes were held on May 31.
Holders approved raising the coupon on the notes due 2015 by 86.8 basis points to 5.691%, payable beginning March 26, 2015, and on the notes due 2016 by 81.7 bps to 5.567%, payable beginning June 20, 2015, according to a company press release.
The amendment will take effect from the closest interest payment date following the implementation date of the company's planned partial demerger, the release noted.
YIT is a Helsinki, Finland-based construction company.
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