By Lisa Kerner
Charlotte, N.C., May 11 Arcadis NV announced it raised 170 million through its inaugural transaction in the Schuldschein market. The offer was upsized from 100 million due to demand.
The company issued debt in two tranches: a five-year tranche of 70 million priced with a spread of 150 basis points and a seven-year tranche of 100 million priced with a spread of 175 bps.
According to Arcadis, there was strong geographic investor diversification across Europe and Asia.
The company is using the issue to take out the remainder of the bridge financing that was in place for the Hyder acquisition concluded at years end.
Remaining funds can be used to finance future growth, according to a news release.
Arcadis is an engineering and consultancy firm based in Amsterdam.
| Issuer: | Arcadis NV
|
| Issue: | Schuldschein
|
| Amount: | 170 million
|
| Distribution: | Private placement
|
|
|
| First tranche
|
| Amount: | 70 million
|
| Maturity: | Five years
|
| Pricing: | Spread of 150 bps
|
|
|
| Second tranche
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| Amount: | 100 million
|
| Maturity: | Seven years
|
| Pricing: | Spread of 175 bps
|
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