ARCADIS successfully extends its debt maturity profile with an inaugural Schuldschein transaction

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Algemeen advies 11/05/2015 08:49
May 11, 2015 - ARCADIS (EURONEXT: ARCAD), the world's leading natural and built asset design & consultancy firm, today announced it has raised EUR 170,000,000 through the company's inaugural transaction in the Schuldschein market.
· EUR 170,000,000 raised with maturities of 5 and 7 years
· The 5 year tranche was priced with a spread of 150 bps
· The 7 year tranche was priced with a spread of 175 bps
· Transaction marks largest Dutch corporate Schuldschein since 2009
· Strong geographic investor diversification achieved across Europe and Asia
· Hyder acquisition financed on a long term basis

The volume of the Schuldschein was initially announced at EUR 100,000,000 and was then increased to EUR 170,000,000 due to very strong demand from investors with the order book covering the initial launch volume 4 times. All tranches have been priced at the tight end of the spread ranges. The split across maturities is EUR 70,000,000 in five years and EUR 100,000,000 in seven years. Roughly three quarters of the volume was placed with Asian, Benelux as well as French investors and investors out of Italy, Germany, Spain and Austria completing the picture.

ARCADIS is using the instrument to take out the remainder of the bridge financing that was in place for the acquisition of Hyder concluded at the end of 2014. The remaining funds can be used to finance the future business growth of the company.

"With this step we make good use of the attractive market conditions to refinance a temporary instrument that has served us well to finance an important acquisition, while at the same time giving us more diversification in our sources of funding," said Renier Vree, CFO of ARCADIS.




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