Royal BAM Group nv signs updated 750 million euro financing facility
- New €550 million senior credit facility.
- Increase and extension of existing subordinated loan to €200 million.
- Continued €155 million bilateral credit lines.
- Strategy with a solid financial foundation.
Bunnik, Netherlands, 6 August 2007. Royal BAM Group nv has further strengthened its financing structure, amongst others by concluding a new €550 million committed financing facility. The facility will be used in part to pay off existing uncommitted bilateral credit lines. The credit facility can be used for both the usual working capital financing and any other activities that may arise. The facility will have a duration of five years.
In addition to the senior facility, BAM is also extending the term of its existing € 150 million subordinated loan by two years to 2013, while also increasing the amount by €50 million to €200 million. The other conditions have also been improved. At the same time, the financial ratios of the existing subordinated loan have been adapted to both the current financial structure of Royal BAM Group and the present international accounting standards. The same ratios apply to the senior facility.
In addition to the committed long-term facilities, BAM will retain €155 million in bilateral credit facilities.
The group of banks to administer the facilities consists of relationship banks that occupy an important position in BAM's home markets. BAM is confident that this structure will enable it to provide the necessary support for its operations and strategy in the years to come.
Further information: J. Ruis, + 31(0)30 659 83 86.
