Fugro has reached agreement with 27 US and UK investors with respect to new US Private Placement loans to a total amount of USD 909 million equivalent.
The loans are denominated in US Dollars (750 million), British Pounds (67.5 million) and Euros (35 million) and have an average coupon of 4.5%. The maturity of the loans is split up in blocks of 7, 10 and 12 years.
Fugro is also finalising the documentation for the agreement reached at the end of June with its banks to prolong the committed bilateral bank facilities. Also two international banks have been added to the group of banks. The total committed amount is EUR 725 million with an interest rate of Euribor + 130 bps and has a maturity of 5 years.
About Fugro:
Fugro’s mission is to be the world’s leading service provider for the collection and interpretation of data relating to the earth’s surface, sub-surface, seabed and for associated services and advice in support of infrastructure development on land, along the coast and on the seabed.
Fugro provides the people, equipment, expertise and technology that support the exploration, development, production and transportation of the world’s natural resources. Fugro also provides its clients with the technical data and information required to design, construct and maintain structures and infrastructure in a safe, reliable and efficient manner.
Services that are provided locally, are supported by a global knowledge base and resource pool of experienced personnel. The services are often offered in combination in order to achieve the optimum results for the clients.
[mappress] Source: Fugro, August 8, 2011;