Jeroen Hellenberg, May 19, 2015

Ordina successfully completes refinancing

Ordina has agreed a new financing facility of EUR 30 million under more favourable conditions:

•    The margin has been cut to 1.00%, compared to the margin of 2.25% – 3.75%, depending on the leverage ratio, for the previous facility;
•    The covenant related to the ratio of net debt to corrected EBITDA has been relaxed;
•    The financing has a term of five years with an initial term of three years and an option to extend twice for a period of one year.

The revolving facility has been fully committed by ABN AMRO and ING and replaces the previous facility of EUR 35 million extended by ABN AMRO, ING and NIBC, which was due to expire in November 2016. ABN AMRO acted as lead arranger for the facility.

Ordina will provide further details of the new facility in its interim report.