(Energy Analytics Institute, 18.Dec.2024) — Fugro NV announced a new €400mn financing on improved terms with its relationship banks, consisting of a €100mn term loan and a €300mn revolving credit facility.
The term loan and revolving credit facility are both unsecured and have a 5-year maturity, plus options to extend maturity for a maximum period of 2 years in total, Fugro said 18 Dec. 2024 in an official statement.
The new financing replaces Fugro’s existing €200mn term loan and €200mn revolving credit facility.
The initial rate of interest is EURIBOR +1.65% on the term loan and EURIBOR +1.30% on the revolving credit facility respectively, Fugro said in the statement.
“Fugro will retain its existing sustainability-linked financing framework and will update the sustainability arrangements and its related key performance indicators (KPIs) in the loan documentation within 9 months after signing. Thereafter the financing arrangements are envisaged to be classified as sustainability-linked, resulting in a discount or penalty mechanism to be applied on the interest margin payable based on the performance against specified annual targets for these KPIs,” the company said.
The syndicated facilities have been arranged by ING, Rabobank, BNP Paribas, HSBC, Bank of America and Barclays.
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