Boskalis completes US$325 million US private placementsCompany News // July 23, 2013
Royal Boskalis Westminster has placed US$325 million US private placement notes with 24 institutional investors in the US.
The issue was heavily oversubscribed with a book close to US$2 billion. The senior notes carry a 10 year maturity with an annual interest rate of 3.66 per cent.
The proceeds of the private placements, together with US$190 million cash received from the recent disposal of Archirodon, will be used to fully repay the US$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.