10.07.2018

New credit line for Riwal

Dutch international sales and rental company Riwal has arranged a new €375 million senior credit facility.

The company has taken advantage of the current favourable market conditions to replace its existing €220 million credit facility with the new line that carries a lower margin along with a 2023 maturity date, with two one year extension options, potentially taking it out to June 2025.

The additional credit will be used for capital expenditure, general corporate and working capital purposes and will help support Riwal’s international growth strategy, including acquisitions.

Chief financial officer René Timmers said: “We are pleased to announce the arrangement of our revolving credit facility with our core banks, which improves our debt maturity profile. We appreciate our strong banking relationships and the confidence that this commitment reflects in our business model.”

The facility has been provided by a syndicate of five Dutch and international banks: ABN AMRO, Commerzbank, Deutsche Bank, ING and Rabobank. Rabobank has been mandated as coordinator, while ING will play the role of agent.

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