Wolters Kluwer Extends Maturity Profile
New debt instruments at attractive market rates
Alphen aan den Rijn (July 28, 2010) - Wolters Kluwer, a market-leading global information services company focused on professionals, announced today the signing, of a €600 million multi-currency credit facility and a €250 million private placement. These new debt instruments will be used for general corporate purposes and refinancing of the existing credit facility.
Multi-Currency Credit Facility
Wolters Kluwer signed a €600 million multi-currency credit facility with a 5-year maturity. The new credit facility is for general corporate purposes, and will replace the existing €928 million credit facility, of which the remaining part will mature in July 2011.
“We are pleased with the successful refinance of this credit facility with our core relationship banks, that will further underpin our commitment to a strong balance sheet and financial flexibility,” said Boudewijn Beerkens, CFO and member of the Executive Board of Wolters Kluwer.
The syndicate includes the following Mandated Lead Arrangers: ABN AMRO, Australia and New Zealand Banking Group Limited, Barclays Capital, Citi, Commerzbank Aktiengesellschaft, Credit Suisse, Deutsche Bank, ING Bank N.V., Intesa Sanpaolo S.p.A. – Amsterdam Branch, Merrill Lynch International, Rabobank, The Royal Bank of Scotland.
Private Placement
In addition to the multi-currency credit facility, Wolters Kluwer also refinanced debt with a 10-year private placement for a total amount of €250 million, to increase the company’s liquidity and headroom. The receipt of money will take place in December 2010. The private placement will further extend Wolters Kluwer’s maturity profile at attractive market rates with an annual coupon of 4.20%.
About Wolters Kluwer
Wolters Kluwer is a market-leading global information services company. Professionals in the areas of legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare rely on Wolters Kluwer’s leading information-enabled tools and software solutions to manage their business efficiently, deliver results to their clients, and succeed in an ever more dynamic world.
Wolters Kluwer had 2009 annual revenues of €3.4 billion, employs approximately 19,300 people worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Visit www.wolterskluwer.com.
Forward-looking Statements
This press release contains forward-looking statements. These statements may be identified by words such as “expect”, “should”, “could”, “shall”, and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer’s businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.