20 October 2022, 07:00 AM CEST
Refinancing of Revolving Credit Facilities
Wereldhave N.V. refinanced its 2017 syndicated Revolving Credit Facility (‘RCF’) with a new five year € 225m syndicated sustainability-linked RCF, pushing out the maturity to Q4 2027. The new facility features sustainability-linked key performance indicators.
The lenders in the facility are ABN AMRO Bank, ING Bank and Rabobank.
ABN AMRO Bank acted as Documentation Agent and Sustainability Coordinator in this transaction, ING Bank is the Facility Agent. Freshfields Bruckhaus Deringer advised Wereldhave on the transaction.
Furthermore, Wereldhave has reached agreement with ABN AMRO Bank to refinance its secured € 80m Green RCF maturing Q3 2024 with a new unsecured € 50m RCF maturing in Q4 2027.
As a result, the loan book is fully unsecured and Wereldhave more than doubles the group’s weighted average term of the (merely undrawn) revolving credit facilities, totaling € 385m, to 4.5 years.
Dennis de Vreede, CFO at Wereldhave comments: “We are proud of our expanded partnership with ABN AMRO Bank, ING Bank and Rabobank. After strengthening our balance sheet whilst refinancing our credit facilities, Wereldhave is in a better than ever position to keep delivering on our LifeCentral transformation strategy.”
Supervisory Board changes
As from 15 December 2022, Mrs. Françoise Dechesne will become the new Chair of the Supervisory Board of Wereldhave N.V. Mr. Adriaan Nühn, who currently chairs the Supervisory Board of Wereldhave N.V., has decided to retire from the Board for personal reasons, with effect from the same date. The Board of Management and the members of the Supervisory Board regret to see Adriaan Nühn leave, but respect his personal decision. Wereldhave would like to express its gratitude towards Adriaan Nühn for the five and a half years of chairmanship, in which he guided Wereldhave through a difficult transformation.
A search for a new Supervisory Board member has meanwhile been started.