Wereldhave N.V.: Wereldhave refinances ?300M syndicated revolving credit facility at improved terms
(Thomson Reuters ONE) -
Wereldhave has refinanced its 2014 ?300m syndicated revolving credit facility
with a new ?300m syndicated revolving credit facility pushing the maturity out
to February 2022. The 2014 facility was due to expire in March 2019. The new
facility takes advantage of favourable market conditions, features two one-year
extension options and includes a ?100m accordion feature.
As a result, Wereldhave extends its maturity profile, decreases its average cost
of debt and, due to a lower margin, reduces the cost of undrawn committed
facilities. Other core terms and conditions, like covenants, did not change and
remain in line with Wereldhave's other existing facilities.
The original consortium of financial institutions, consisting of ABN AMRO Bank,
Barclays, BNP Paribas, ING Bank and RBS, was joined by Rabobank.
ABN AMRO Bank acted as Documentation Agent in this transaction and ING Bank
remains Facility Agent (as per the 2014 facility). Lastly, Axeco (financial) and
Freshfields Bruckhaus Deringer (legal) advised Wereldhave on the transaction.
Information for the press:
Richard W. Beentjes
E richard.beentjes(at)wereldhave.com
T + 31 20 702 78 37
Information for analysts:
Jaap-Jan Fit
E jaapjan.fit(at)wereldhave.com
T + 31 20 702 78 43
2017-02-06_Press Release_Wereldhave refinances ?300M syndicated RCF:
http://hugin.info/134202/R/2076144/780791.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wereldhave N.V. via GlobeNewswire
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