The issue was heavily oversubscribed with a book close to $2bn. The senior notes carry a 10-year maturity with an annual interest rate of 3.66%. RBS and Rabobank acted as placing agents.
The proceeds of the private placement, together with $190m cash received from the recent disposal of Archirodon will be used to fully repay a $525m bridging loan facility, which was raised partly to finance the acquisition of Dockwise. With the US private placement, in addition to the three and five year committed bank facilities and the existing 2010 US private placements, Boskalis will continue to have a solid financial structure, the statement said.
Boskalis offers a wide variety of marine services and contracting for the offshore energy sector including subsea, heavy transport, lifting and installation, through Boskalis Offshore and Dockwise, and towage and salvage, through SMIT. It also has a strategic partnership in terminal services -Smit Lamnalco. With a versatile fleet of over 1,100 units Boskalis operates in around 75 countries across six continents.
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