Lemminkäinen - Company Announcement

Lemminkäinen has agreed on amended terms of its credit facility and continues measures to strenghten the balance sheet

LEMMINKÄINEN CORPORATION  STOCK EXCHANGE RELEASE 21 MAY 2014 AT 10:15 A.M

LEMMINKÄINEN HAS AGREED ON AMENDED TERMS OF ITS CREDIT FACILITY AND CONTINUES
MEASURES TO STRENGHTEN THE BALANCE SHEET 

Lemminkäinen Corporation agreed on a three-year unsecured syndicated revolving
credit facility of EUR 185 million in March 2013. The revolving credit facility
includes two financial covenants: equity ratio and net debt to EBITDA.
Lemminkäinen informed in its interim report on 30 April 2014 that the terms of
the net debt to EBITDA covenant were not met in the first quarter of 2014. The
company has agreed on amended terms of its credit facility with the lenders. 

Lemminkäinen continues measures to strengthen its balance sheet and to improve
its financing position. The company announced on 14 May 2014 the divestment of
its technical building services business. The debt and cash free purchase price
was EUR 60 million of which Lemminkäinen will record a significant capital
gain. 

Lemminkäinen will strengthen its balance sheet with approximately EUR 100
million. The company continues the disposal of non-core assets and operations.
In addition, the company is planning to carry out an equity issue in autumn
2014 by using the authorisation granted to the Board of Directors by the Annual
General Meeting on 9 April 2014. 

Furthermore, the company has agreed not to pay any dividends without the
consent of the lenders. 

Lemminkäinen also intends to issue a bond during 2014.

Currently, the company has committed credit limits amounting to EUR 185 million
and overdraft limits amounting to EUR 62 million. Nordea Bank Finland Plc,
Danske Bank A/S, Helsinki Branch, Pohjola Bank Plc and Handelsbanken are
participating in the facilities. 


LEMMINKÄINEN CORPORATION
Corporate Communications

ADDITIONAL INFORMATION:
Ilkka Salonen, Interim CFO
Tel. +358 2071 54524
ilkka.salonen@lemminkainen.com

Investors, analysts:
Katri Sundström, Vice President, Investor Relations
Tel. +358 2071 54813
katri.sundstrom@lemminkainen.com

DISTRIBUTION:
NASDAQ OMX Helsinki
Key media
www.lemminkainen.com

Together with our customers we create conditions that make living, working and
travelling functional, safe and healthy. We operate in northern Europe and
employ about 7,800 professionals. In 2013, our net sales were about EUR 2.2
billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic
Exchange Helsinki. www.lemminkainen.com