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TKH concludes new credit facility

TKH Group N.V. (TKH) has successfully concluded a new committed credit facility of € 250 million with a group of banks.

The committed facility of € 250 million concerns a revolving and standby facility, which provides a high flexibility to draw downs and repayments. The new facility has a term of 5 years and replaces the existing bilateral committed bank facilities of € 125 million in total, of which the largest tranche was due to mature in August 2012. The new facility has been concluded at covenants similar to the old facilities, with a maximum leverage ratio of 3.0 and a minimum interest coverage ratio of 4.0.

Furthermore, the uncommitted facilities with the group of banks have been renewed and increased with an amount of € 20 million to a total of € 190 million.

With this refinancing, the continuity of the financing is safeguarded for the coming years. The increase in facilities provides TKH a basis to realize its growth ambitions.

The facility is concluded with six leading international banks: ABN AMRO, BNP Paribas, Commerzbank, ING, Rabobank and RBS.

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