Wessanen successfully renegotiates more favourable terms for its credit facility
(Thomson Reuters ONE) -
Royal Wessanen nv has successfully renegotiated certain terms of its ?100
million credit facility with the existing syndicate group of banks, being ABN
Amro, ING, Rabobank and BNP Paribas. The facility was scheduled to mature in
February 2012 and has now been extended to February 2014. In 2010, the credit
facility was reduced to ?100 million from ?250 million as proceeds from
divestments of mainly Tree of Life North America were applied to mandatory
redemptions of facility loans and a reduction of the credit facility. The
successful divestments in 2010 of Tree of Life North America and PANOS Brands
are fully in line with Wessanen's strategy to focus on organic food in Europe.
The interest margin on the facility is reduced to 100-225 basis points over
Euribor based on the leverage ratio (Net debt to EBITDAE). The financial
covenants have been immunised for potential future changes in accounting rules
for leases, but have otherwise not changed.
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For more information
Carl Hoyer (VP Corporate Communications)
Phone +31 (0)20 3122 140 / +31 (0)6 123 556 58
Emailcarl.hoyer(at)wessanen.com / investor.relations(at)wessanen.com
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Download the full press release (PDF, 66k):
http://hugin.info/143317/R/1530259/465509.pdf
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Source: Royal Wessanen nv via Thomson Reuters ONE
[HUG#1530259]
Unternehmensinformation / Kurzprofil:
Datum: 12.07.2011 - 08:04 Uhr
Sprache: Deutsch
News-ID 56312
Anzahl Zeichen: 1959
contact information:
Town:
AT Amsterdam Zuidoost
Kategorie:
Business News
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