12.07.2023

Riwal extends credit facility

Dutch international access and telehandler rental group Riwal has extended its €300 million Revolving Credit Facility for a further two years. The interest rate payable will depend - amongst other criteria - on the company’s year on year sustainability performance improvement.

The indicators are linked to Riwal’s key sustainability initiatives from its ‘Sustainability 2025’ strategy statement, and include: increasing the number of sustainable products, reducing solid waste, increasing the company’s Ecovadis score from Silver to Platinum level and reducing its overall carbon footprint. Based on the progress on these indicators, a discount or premium may apply to the interest rate.

Chief financial officer René Timmers said: “We are proud to be a front runner on sustainability in this industry. At Riwal, we preserve what matters. Our continued effort to align our sustainability ambitions and targets with the extended Revolving Credit Facility underlines this commitment. This extension improves our debt maturity profile and the commitment from our core banks truly reflects confidence in our business model, of which reaching our sustainable goals is an essential element. Sustainability is fully integrated in our business strategy and daily operations and can now be valued as such.”

The revolving credit line is provided by a syndicate of five banks - ABN AMRO, Commerzbank, Deutsche Bank, ING and Rabobank. On top of the €300 million revolving credit facility, Riwal has also extended its €75 million accordion feature, to allow for potential acquisitions in the future.
Riwal, was established in 1968 and is currently active in 14 countries with a fleet of around 20,000 units and 1,400 employees.