Riwal Arranges €375 Million Senior Credit Facility

Riwal Holding Group, the international aerial work platform rental and sales specialist, has arranged a new €375 million senior credit facility.
July 10, 2018
2 min read

Riwal Holding Group, the international aerial work platform rental and sales specialist, has arranged a new €375 million senior credit facility. Taking advantage of favorable market conditions, the new facility is replacing an existing €220 million credit facility and has a maturity ending in 2023 with two one-year extension options, potentially lengthening the period to June 2025.

The margin of the credit facility has been lowered, reflecting Riwal’s strong balance sheet and performance. The credit facility will be used for capital expenditure, general corporate and working capital purposes and will help support Riwal’s international growth strategy, including acquisitions.

“We are pleased to announce the arrangement of our revolving credit facility with our core banks, which improves our debt maturity profile,” said René Timmers, Riwal’s chief financial officer. “We appreciate our strong banking relationships and the confidence that this commitment reflects in our business model.”

The credit facility is provided by a syndicate of five Dutch and international banks, namely ABN AMRO, Commerzbank, Deutsche Bank, ING and Rabobank. Rabobank has been mandated as coordinator for this transaction and ING Bank will play the role of agency.

Riwal, established in 1968 and headquartered in Dordrecht, The Netherlands, has 67 branches in 16 countries, operates more than 16,000 units and conducts business in more than 70 countries.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.

Sign up for Rental Equipment Register Newsletters