DGAP-News: Wereldhave /
Wereldhave signs a [Eur]300M syndicated revolving credit facility
agreement
28.03.2014 / 07:35
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Schiphol, the Netherlands, 2014-03-28 07:35 CET (GLOBE NEWSWIRE) --
Wereldhave has signed a [Eur]300m syndicated revolving credit facility agreement
with a syndicate of 5 banks, refinancing its current [Eur]270m facility due to
expire mid-2015. As a result, Wereldhave extends its average maturity of
available credit lines, decreases its average cost of debt and reduces the cost
on undrawn commitments due to lower margin.
The transaction was initially launched for [Eur]250m but due to oversubscription
increased to a [Eur] 300m facility with maturity in March 2019. The covenants
are
in line with other existing facilities. The successful transaction reflects
Wereldhave's attractive credit profile. At year-end 2013, the Loan-to-Value
stood at 27.4%, the ICR at 6.6x and the average cost of debt at 2.8%.
The consortium of banks consists of ABN AMRO Bank N.V., Barclays Bank PLC, BNP
Paribas, ING Bank N.V. and The Royal Bank of Scotland as Book running Mandated
Lead Arrangers with ING acting as Coordinator and Facility Agent.
Information for the press:
Richard W. Beentjes
E richard.beentjes@wereldhave.com
T + 31 20 702 78 33
Information for analysts:
Jaap-Jan Fit
E jaapjan.fit@wereldhave.com
T + 31 20 702 78 43
News Source: NASDAQ OMX
End of Corporate News
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28.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Wereldhave
Netherlands
End of News DGAP News-Service
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260201 28.03.2014
DGAP-News: Wereldhave signs a [Eur]300M syndicated revolving credit facility agreement
| Source: EQS Group AG