|
contents | business | |||||||||
| Arcadis strengthens financial position for future growth The Netherlands-based Arcadis announced that it has completed a 10-year U.S. Private Placement (USPP) of $110 million. In addition, the company has also refinanced most of its bank loans, taking on a $245 million term loan facility with maturities in 2013 and 2016 and a new revolving credit facility of €150 million maturing in 2016. With these steps, Arcadis is effectively creating financial room for the future growth of the firm. The USPP is issued at 5.1% for the 10-year period with five U.S. investors purchasing Arcadis notes. RBS and ING were jointly responsible for the transaction. The USPP funding will be used to replace existing bank debt. The remaining refinancing of bank debt was done with an expanded syndicate of six banks with Rabobank in a coordinating role. The syndicate now also includes a U.S.-based bank, allowing Arcadis to optimize its cash management globally. write your comments about the article :: © 2011 Construction News :: home page |