On Wednesday 8 December 2010 TenCate concluded a credit facility with an international syndicate of eleven banks in the amount of € 450 million. The term of this facility is five years. In this way TenCate is renewing the existing credit facility, which was concluded in 2007 for € 250 million and was increased to € 400 million in 2008.
The new credit facility has greater flexibility as regards amongst others seasonal patterns in the Net Debt/EBITDA, which are characteristic for some business units, such as synthetic turf activities. The new credit facility will be used partly to support the TenCate Buy & Build strategy.
Royal Ten Cate
Almelo, the Netherlands, Friday 10 December 2010