Daily News: October 30, 2017

Perpetual Corporate Trust Agents $96MM Facility for Royal Wolf


Royal Wolf Holdings, Royal Wolf Trading Australia and its subsidiaries closed a A$125 million ($96 million) senior secured credit facility with Perpetual Corporate Trust as administrator and Deutsche Bank as lead arranger.

According to a related 8-K filing, amounts borrowed under the New Royal Wolf Credit facility will be used to repay in full on November 3, 2017 all amounts borrowed under the existing senior secured credit facility of Royal Wolf agented by ANZ.

The new Royal Wolf credit facility will consist of a single draw A$20 million ($15 million) facility A that would amortize semi-annually with payments of A$3.33 million ($2.53 million), a single draw A$85 million ($65 million) facility B1 with no amortization, a single draw NZ$30 million ($21 million) facility B2 with no amortization and an A$20 million ($15 million) revolving facility C that can be drawn and re-drawn. The maturity date, when all amounts borrowed under the New Royal Wolf credit facility must be repaid, is November 3, 2020.

Repayment of all amounts borrowed under the New Royal Wolf credit facility will be secured by a fixed and floating charge over all assets of Royal Wolf and by the pledge of all capital stock of all the subsidiaries of Royal Wolf Holdings.

Royal Wolf Holdings is a manufacturer of shipping containers.