ING Bank coordinated the refinancing of Royal Boskalis Westminster’s revolving credit facility, which will provide the company with €500 million ($547.37 million) in committed bank financing until April 2025. ABN AMRO Bank, BNP Paribas, HSBC, ING Bank, MUFG, Rabobank and NatWest made up the syndicate of seven banks that provided the facility.
The new five-year facility has improved terms and refinances Royal Boskalis Westminster’s current revolving credit facility which was due to mature in August 2021. There is an option within the new facility to increase the facility size by an additional €150 million ($164.21 million) as well as two one-year extension options.
Beside the facility and its options, Royal Boskalis Westminster has a U.S. Private Placement of $325 million outstanding that matures in July 2023.
Royal Boskalis Westminster is a global services provider operating in the dredging, maritime infrastructure and maritime services sectors.