Royal Boskalis Westminster N.V. has successfully placed USD 325 million US Private Placement notes with 24 institutional investors in the United States.
The issue was heavily oversubscribed with a book close to USD 2 billion. The senior notes carry a 10 year maturity with an annual interest rate of 3.66%.
The proceeds of the private placements, together with USD 190 million cash received from the recent disposal of Archirodon, will be used to fully repay the USD 525 million bridge facility, which purpose was to partly finance the acquisition of Dockwise. With these US private placements, in addition to the three and five year committed bank facilities and the existing 2010 US private placements, Boskalis will continue to have a solid financial structure.
RBS and Rabobank acted as placing agents.
Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors.