Royal Boskalis Westminster NV refinances its RCF with EUR 500 million
Royal Boskalis Westminster NV has announced in an online statement it has refinanced its revolving credit facility (RCF) “providing the company with EUR 500 million committed bank financing until April 2025”.
It said the new facility was coordinated by ING Bank and is provided by a syndicate of seven banks (ABN AMRO Bank, BNP Paribas, HSBC, ING Bank, MUFG, Rabobank and NatWest). With the new five-year facility with improved terms, Boskalis refinances its current RCF which was due to mature in August 2021.
Within the new facility there is an option to increase the facility size by an additional EUR 150 million as well as two 1-year extension options. Besides the RCF and its options, Boskalis has a US Private Placement of USD 325 million outstanding that matures in July 2023. With the new facility in place, Boskalis’ financing structure is well spread and long dated.
The statement said: “The financial position of Boskalis continues to be very strong. The company ended the year 2019 with a positive net cash financial position of EUR 26 million, with a further slight improvement as per 1 April 2020. The current cash position and new RCF offers Boskalis substantial financial headroom to run its operations and to undertake future investments.”
For more information visit www.boskalis.com
18th April 2020
