Wavin extends financing facility
(Thomson Reuters ONE) -
Zwolle, 20 December 2011 - Wavin, Europe's leading supplier of plastic pipe
systems and solutions, announces today that it has obtained commitment from its
lending banks to extend and amend its existing financing facility. The amended
syndicated arrangement amounts to EUR 440 million and will mature in April 2015.
The EUR 440 million facility consists of a EUR 220 million Bullet Term Facility
and a EUR 220 million Revolving Credit Facility. Covenant levels have been
relaxed, whilst conditions and margins remain similar to the existing facility.
Maturity has been extended with two years to April 2015. The new financing
facility provides Wavin with sufficient headroom and flexibility to respond to
uncertain market conditions and offers a solid base to execute the 'Wavin 2015'
strategic program.
About Wavin
Wavin is the leading supplier of plastic pipe systems and solutions in Europe.
The company provides essentials: plastic pipe systems and solutions for tap
water, surface heating and cooling, soil and waste, rain- and storm water,
distribution of drinking water and gas and telecom applications. Wavin is
headquartered in Zwolle (The Netherlands) and has a presence in 26 European
countries, with manufacturing sites in 18 of those and one in China. The company
employs approximately 6,400 people and reported revenue of more than EUR 1.2
billion for 2010. Outside Europe, it has a global network of agents, licensees
and distributors. Wavin is listed on the NYSE Amsterdam stock exchange (WAVIN).
More details about Wavin can be found at www.wavin.com
For further information:
Media Relations: Investor Relations :
Herbert van Zijl Ton Bruijne
Telephone: +31 38 429 4209 Telephone: +31 38 429 4357
Mobile: +31 6 51461442 Mobile : +31 6 51234949
E-mail: media(at)wavin.com E-mail: InvestorRelations(at)wavin.com
Click here to view the press release in PDF format:
http://hugin.info/143050/R/1572585/489357.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wavin N.V. via Thomson Reuters ONE
[HUG#1572585]
Unternehmensinformation / Kurzprofil:
Datum: 20.12.2011 - 08:19 Uhr
Sprache: Deutsch
News-ID 98591
Anzahl Zeichen: 2768
contact information:
Town:
AD ZWOLLE
Kategorie:
Business News
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"Wavin extends financing facility"
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