Wereldhave N.V.: Wereldhave refinances €300M syndicated revolving credit facility at improved terms
February 06 2017 - 11:40AM
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@wereldhave.com
T + 31 20 702 78 37
Information for
analysts:
Jaap-Jan Fit
E jaapjan.fit@wereldhave.com
T + 31 20 702 78 43
2017-02-06_Press Release_Wereldhave
refinances €300M syndicated RCF
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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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