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    Boskalis closes debt financing for Dockwise acquisition

    News // February 1, 2013

    Royal Boskalis Westminster has confirmed that it has secured debt financing for its all cash mandatory public offer for all the issued and outstanding ordinary shares of semi-submersible heavy lifft compnay Dockwise.

    The credit facilities it has obtained contain a combination of a three-year term loan (US$525 million) and a five-year revolving credit facility (Euros 500 million).

    The term loan and revolving credit facility have been arranged by a group of BMLAs comprising ABN AMRO Bank, BNP Paribas, Rabobank, ING Bank, Bank of Tokyo-Mitsubishi UFJ and The Royal Bank of Scotland. ABN AMRO Bank and The Royal Bank of Scotland acted as co-ordinators.

    Alongside these credit facilities, Boskalis has entered into a bridging credit facility (US$525 million) with Rabobank and The Royal Bank of Scotland.

    The bridge facility will be refinanced by a debt capital market issuance.

    The entire package, combined with Euros 320 million of new equity raised earlier this month, will be used for financing the acquisition of Dockwise as well as the refinancing and replacement of certain existing Boskalis and Dockwise debt facilities.

    The facilities will provide sufficient room for the new combination to undertake future investments.


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