Grontmij announces comprehensive financial solution
De Bilt, 9 March 2012 - Grontmij N.V. today announces a comprehensive financial
solution that has been agreed upon with its banks and certain major
shareholders. In order to obtain sufficient financial flexibility and to enable
Grontmij to focus on the execution of the restructuring plans and the
operational activities, the comprehensive solution involves a new debt facility
and a rights offering (subject to formal approvals.)
Key points financial solution:
* Fully underwritten EUR 80 million rights offering backed by certain major
shareholders
* Pre-commitment of 48.5% by these shareholders: remaining 51.5% volume
committed by ING Bank N.V. and Nordea Bank Danmark A/S
* New debt facilities for an amount of EUR 180 million with a tenor of four
years and a short term working capital facility until year-end 2012 of EUR 10
million
Michiel Jaski, Grontmij CEO:
´We are pleased to announce a financial solution that permits Grontmij to look
forward with confidence. For the Boards of Grontmij it is extremely important
that, as part of this solution, we can offer all shareholders an equal
opportunity to participate in the recovery in the years to come. With the rights
offering we have secured that opportunity. Backed by this financial solution the
almost 10.000 professionals working at Grontmij can now fully focus again on the
business, to deliver excellent service in sustainable design and management
consultancy to our customers.´
To the website grontmij.com for the full press release
Note to editors
Grontmij is the third largest engineering consultancy in Europe with nearly
10,000 professionals. At the heart of our business is the sustainability by
design principle. It is a leading value proposition for our customers delivered
by four business lines: Planning & Design, Transportation & Mobility, Water &
Energy, Monitoring & Testing.
Press release - Grontmij announces comprehensive financial solution:
http://hugin.info/143540/R/1592730/500960.pdf
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