Imtech: reaches agreement with its main financiers
March 20 2013 - 2:31AM
Gouda - Royal Imtech N.V.
(IM-AE, technical services provision in and outside Europe) has
reached agreement with its main financiers (including the holders
of unsecured senior notes and its largest guarantee providers) on
the provisional continuation of their current outstanding
facilities. As a result, the previously announced financial
restructuring of the Imtech Group is on track.
Hans Turkesteen, CFO Imtech: 'The agreement
announced today means the financiers will, under conditions
customary in these circumstances, continue to make their current
facilities available. In addition, the remaining 200 million euro
of the 500 million euro bridge loan announced on 27 February 2013
will now also become available to the Company. This agreement gives
an important signal to our customers, suppliers, employees and
shareholders.'
Once the financial statements 2012 have been
published, Imtech anticipates that it will be able to implement the
following phase of its financial restructuring. In the meantime, as
was announced on 27 February, the rights issue of 500 million euro,
guaranteed by means of a volume underwriting commitment under
customary conditions, is being prepared. Imtech intends to finalise
the rights issue in the summer of 2013. As previously announced,
Imtech aims to achieve an average net debt/EBITDA ratio of 1.5 -
2.0.
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More information
Media: |
Analysts & investors: |
Pieter Koenders
Director Group Communications
T: +31 655 74 65 85 / +31 182 54 35
53
E: pieter.koenders@imtech.com
www.imtech.com |
Jeroen Leenaers
Director Investor Relations
T: +31 182 543 504
E: jeroen.leenaers@imtech.com
www.imtech.com
|
Imtech
profile
Royal Imtech N.V. is a European technical
services provider in the fields of electrical solutions, ICT
(information and communication technology) and mechanical
solutions. With 29,000 employees, Imtech achieves annual revenue of
more than 5.1 billion euro. Imtech holds strong positions in the
buildings and industry markets in the Netherlands, Belgium,
Luxembourg, Germany, Austria, Eastern Europe, Sweden, Norway,
Finland, the UK, Ireland, Turkey and Spain, the European markets of
ICT and Traffic as well as in the global marine market. In total
Imtech serves 24,000 customers. Imtech offers added value with
integrated and multidisciplinary total solutions that lead to
better business processes and more efficiency for customers and the
customers they, in their turn, serve. Imtech also offers solutions
that contribute towards a sustainable society - for example, in the
areas of energy, the environment, water and traffic. Imtech shares
are listed on the NYSE Euronext Amsterdam, where Imtech is included
in the AEX Index. Imtech shares are also included in the Dow Jones
STOXX 600 index.
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Pdf: Imtech Press Release
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Reuters clients.
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information contained therein.
Source: Imtech via Thomson Reuters ONE
HUG#1686564
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