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Boels Rental announced that on January 17 2025 it has successfully completed the repricing of the outstanding € 1,050m Term Loan B (TLB) due in 2031. The repricing is leverage neutral and reduces the interest rate margin applicable to the TLB to 275 basis points, a reduction of 25 basis points. No other terms were changed on the TLB.
Commenting on the transaction, Chief Financial Officer René Olsthoorn said: “We are pleased with the strong market demand for our Term Loan B. This transaction is consistent with our track record of optimising our capital structure, which we have accomplished here by reducing our interest expense through repricing with no change to our leverage, covenants or maturity date.”
We are pleased with the strong market demand for our Term Loan B
On this repricing, ING and Rabobank acted as Global Coordinators and active bookrunners. ABN-AMRO Bank, BNP Paribas and J.P. Morgan acted as passive bookrunners.
