The private loan will be issued in different instalments with terms of 7, 10 and 12 years and are all redeemable at the end of their term. The interest rates are fixed for the durations of the instalments. The average interest rate is approx. 5.7% after a swap of USD positions to EUR. In respect of this swap, there is no currency risk. Besides this notes program, Heijmans has a € 400 million 5 year bankfacility the duration of which has recently been extended to April 2012. This bankfacility with eight banks was concluded in March 2006.
Dick van der Kroft, member of Heijmans' Executive Board and the company's CFO: "We have improved and reinforced our financial position with this private placement. Furthermore, we have gained access to a new group of institutional investors. This transaction supports the continued implementation of our strategy."
ABN AMRO acted as the financial advisor in this transaction.
For more information:
note: this press release is a translation of a Dutch text. In case of textual contradictions between the Dutch and the English version, the Dutch shall prevail.