ALMELO, Netherlands, Nov. 3, 2014 (GLOBE NEWSWIRE) -- On Friday, 31 October 2014 TenCate closed a €350 million credit facility with an international syndicate of six banks, with a possible increase of €150 million.
The facility has a five-year term. With this facility, TenCate has renewed the existing €450 million credit facility, which was closed in 2010. Like the existing facility, the new credit facility is flexible with regard to the seasonal patterns in the Net Debt/EBITDA ratio which are characteristic of certain business units, with covenants similar to those of the existing credit facility.
Royal Ten Cate
Almelo, The Netherlands, Monday, 3 November 2014
For further information:
Gert Steens, manager investor relations
Telephone : +31 (0)546 544 977
Mobile : +31 (0)621 597 411
E-mail : firstname.lastname@example.org
Internet : www.tencate.com
Royal Ten Cate (TenCate) is a multinational company that combines textile technology with chemical processes and material technology in the development and production of functional materials with distinctive characteristics. TenCate products are sold throughout the world.
Systems and materials from TenCate come under four areas of application: safety and protection; aviation and aerospace; infrastructure and the environment; sport and recreation. TenCate occupies leading positions in protective fabrics, composites for aviation and aerospace, antiballistics, geosynthetics and synthetic turf. TenCate is listed on NYSE Euronext (AMX).
Press release as PDF http://hugin.info/130798/R/1867652/656271.pdf
Source:Koninklijke Ten Cate NV