Royal Wessanen nv has successfully renewed its €100 million revolving credit facility with ABN Amro, ING and Rabobank. The current facility was scheduled to mature in February 2014.
The new three-year secured facility contains uncommitted options to extend the facility for in total two years and to increase the facility amount up to a maximum aggregate amount of €25 million ('accordion facility').
The pricing grid of the facility is narrowed to 110-205 basis points over Euribor based on the leverage ratio (Net debt to EBITDAE). The maximum leverage ratio remains at 3.0x, while also the ability to pay out dividend remains in line with Wessanen's dividend policy, being a maximum of 45% of the net result excluding any non-recurring effects.
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Carl Hoyer (VP Corporate Communications)
Phone +31 (0)20 3122 140 / +31 (0)6 12 35 56 58