Getronics keeps full access to its €284 million in Syndicated Credit Facilities until maturity in March 2008.
This means that the earlier announced decrease with €30 million has been cancelled by its lending banks.
Getronics is pleased to announce it has been able to reach an agreement with its banking syndicate on the following amendment to its 2005 Syndicated Revolving Credit Facilities:
- Following the announced sale of HRS, the Company has regained full lending commitment from its banks, without any further stipulation on other transactions
- As a result of this the earlier announced decrease with €30 million of the Syndicated Revolving Credit Facilities on 30 September 2006 has been cancelled
This means that Getronics keeps full access to the Syndicated Credit Facilities of €284 million in total until maturity in March 2008, consisting of €225 million Revolving Credit Facilities and a Term Loan Facility of €59 million for acquisition purposes. Its Banking Syndicate consists of ABN AMRO, Rabobank, ING Bank, SNS Bank and NIBC.
Comments by CEO Klaas Wagenaar: "I am very happy with this agreement as it is a clear vote of confidence from our banking syndicate, which allows us - after the sale of Italy and HRS - to fund our normal working capital needs going forward."