With reference to the press release of 30 January 2013, in which Boskalis announced its decision to make an all cash mandatory public offer for all the issued and outstanding ordinary shares of Dockwise at a price of EUR 18.50 per share cum dividend, which equals NOK 137 as per the date of this announcement, Boskalis confirms that it has signed the agreements for the required debt financing.
The credit facilities contain a combination of a 3-year term loan (USD 525 million) and a 5-year revolving credit facility (EUR 500 million). The term loan and revolving credit facility have been arranged by a group of BMLAs comprising ABN AMRO Bank, BNP Paribas, Rabobank, ING Bank, Bank of Tokyo-Mitsubishi UFJ and The Royal Bank of Scotland. ABN AMRO Bank and The Royal Bank of Scotland acted as co-ordinators.
Next to these credit facilities, Boskalis has entered into a bridge credit facility (USD 525 million) with Rabobank and The Royal Bank of Scotland. The bridge facility will be refinanced by a debt capital market issuance.
The entire package, combined with EUR 320 million of new equity raised earlier this month, will be used for financing the acquisition of Dockwise as well as the refinancing and replacement of certain existing Boskalis and Dockwise debt facilities. Furthermore, these facilities will provide sufficient room for the new combination to undertake future investments.
[mappress]
Press Release, January 31, 2013