DGAP-News

Wereldhave successfully completes a US private placement

DGAP-News: Wereldhave /
Wereldhave successfully completes a US private placement

24.07.2014 / 07:45

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Wereldhave N.V. has completed a EUR 265 m private placement in 7 notes
with maturities ranging from 7 to 15 years.

Schiphol, the Netherlands, 2014-07-24 07:45 CEST (GLOBE NEWSWIRE) --
Wereldhave N.V. has completed a EUR 265 m private placement in 7 notes with
maturities ranging from 7 to 15 years.

Wereldhave N.V. ('Wereldhave') has completed the issuance of Euro 265 m of
senior unsecured notes through a private placement to 5 Institutional Investors
with maturities up to 15 years. The average interest costs of the notes is 2.9
%.

Reason for issuance
The interest rates are at historic low levels and Wereldhave has taken the
opportunity both to extend the maturity of its debt and to fix the interest.
The maturity of its debt will increase from 3 years at the end of 2013 to 5.5
years with interest rates fixed for 95 % of the debt.

It will further allow the company to repay all debt maturing in 2015 and 2016.

Unsecured Senior Notes
The EUR 265 m consists of 7 notes, Euro 160 m of the notes is dominated in Euro
and the remainder in US dollars and Pound sterling. The US Dollar notes (US
92.5 m) have been swapped into Euro's for the whole maturity (10 and 12 years),
the Pound sterling note (GBP 30m) has been swapped into Euro's for 10 years of
the 15 years maturity.

The notes have an average weighted maturity of 10.1 year.

Under the terms of the private placement, Wereldhave is obliged to maintain a
LTV of at 60 %, Wereldhave aims to have a medium term LTV of below 40 %.
Wereldhave is also obliged to maintain an interest cover of more than 2 times.
The Royal Bank of Scotland acted as agent in this transaction. Swaps were
effectuated with ABN AMRO, ING and RBS.





Information for the press:
Richard W. Beentjes
E [e-mail]
T + 31 20 702 78 33

Information for analysts:
Jaap-Jan Fit
E [e-mail]
T + 31 20 702 78 43

Click on, or paste the following link into your web browser, to view the associated documents

https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=481423

News Source: NASDAQ OMX


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24.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Wereldhave


Netherlands


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279112 24.07.2014