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| Royal BAM signs updated €750 million financing facility Based in the Netherlands, 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. 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. write your comments about the article :: © 2007 Construction News :: home page |