Wereldhave N.V.: Wereldhave refinances €300M syndicated revolving credit facility at improved terms

World News: . []

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

This announcement is distributed by Nasdaq Corporate Solutions on behalf 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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Thomson Reuters: 16:40 GMT Monday 6th February 2017

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