13.03.2015

Riwal renews and expands credit lines

Riwal, the aerial work platform and telehandler rental specialist, has signed a new €220 million syndicated credit facility, along with an optional €40 million additional credit line.

The new base credit facility, which is 33 percent higher than the company’s previous credit line, has a four year term, with the option to extend for a fifth year. The additional financing, along with the further option, will be used to support Riwal’s international growth strategy, including significant planned investments in its rental fleet, greenfield expansions and bolt-on acquisitions.

The facilities are provided by an international banking syndicate consisting of Rabobank, ABN AMRO, ING, Commerzbank, and HSBC.

Chief executive Norty Turner said: “We are pleased with the renewal of our credit facilities and the support of our current and new banking partners. The facilities will help us to pursue expansionary opportunities and reduce our average fleet age to even lower levels, supporting our vision to deliver the best customer experience and the highest levels of safety.”