Heijmans successfully concludes a USD 125 million US Private
Placement Notes Program
's Hertogenbosch - On May 30st Heijmans N.V. issued a USD 125 million
senior unsecured notes program in the American "Private Placement
Market". Seven institutional investors are participating in this
private loan. The proceeds will be used to refinance terminating
project- and bankfacilities and to better align the company's
financing structure with its most important assets (particularly the
land bank used for residential development).
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:
Press
Frank Janssen
Director of Group Communications
+31 73 5435169
fjanssen@heijmans.nl
Analysts
Fons van Lith
Director of Investor relations
+31 6 51314952
flith@heijmans.nl
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.