Ballast Nedam €400 million restructuring

Overview:

• Ballast Nedam, a listed Dutch Property and infrastructure construction group, has undergone a €400 million restructuring.
• In April 2015, Ballast Nedam agreed a €343 million refinancing which was completed in June 2015. In September 2015, a €160 million project finance agreement was signed in with effective date of 30 June 2015. In December 2015, a €47.6 million rights issue and private placement was completed.
• Rabobank, RBS, FGH and ING were the lenders.
• Renaissance now holds approximately 97.82% stake in Ballast Nedam after the completion of the restructuring. Subsequently, a delisting request was filed with Euronext Amsterdam.

Wai Yee Tsang - Journalist