SOURCE: Koninklijke Ten Cate NV

December 10, 2010 02:01 ET

TenCate concludes new credit facility

ALMELO, NETHERLANDS--(Marketwire - December 10, 2010) -

On Wednesday 8 December 2010 TenCate concluded a credit facility with an international syndicate of eleven banks in the amount of EUR 450 million. The term of this facility is five years. In this way TenCate is renewing the existing credit facility, which was concluded in 2007 for EUR 250 million and was increased to EUR 400 million in 2008.

The new credit facility has greater flexibility as regards amongst others seasonal patterns in the Net Debt/EBITDA, which are characteristic for some business units, such as synthetic turf activities. The new credit facility will be used partly to support the TenCate Buy & Build strategy.

Royal Ten Cate
Almelo, the Netherlands, Friday 10 December 2010

Royal Ten Cate (TenCate) is a multinational company which combines textile technology with related chemical processes and material technology in the development and production of functional materials with distinctive characteristics. Products of TenCate are sold worldwide. Systems and materials from TenCate come under four areas of application: safety & protection, space & aerospace, infrastructure & the environment, and sport & recreation. TenCate occupies leading positions in protective fabrics, composites for space and aerospace, antiballistics, geosynthetics and synthetic turf. TenCate is listed on the NYSE Euronext (AMX).

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Source: Koninklijke Ten Cate NV via Thomson Reuters ONE


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