- Lucas Bols entered into a new € 130 million syndicated credit facility agreement, replacing the previous agreement. The existing lender group of NIBC and Rabobank has been extended to three banks with the addition of ABN AMRO.
- The new arrangement consists of € 30 million term loan facilities, € 50 million revolving credit facilities and € 50 million acquisition facilities for the funding of the envisaged Passoã transaction
- The facilities have a maturity of five years, with options to extend. Increased flexibility is achieved through an increase of the flat leverage covenant from 3.0x Net debt / Adjusted EBITDA to 4.0x.
- Joost de Vries, CFO at Lucas Bols commented: “This leverage-neutral transaction will improve the terms and conditions of Lucas Bols' financing structure through extended maturity and lower rates.”
- Guus de Haan, Head of Debt Advisory at Kempen added: “The new financing structure is reflective of Lucas Bols’ improved credit profile since the IPO and favourable loan market environment. It offers Lucas Bols a significant increase in operational flexibility at attractive conditions and provides for further support and development of the business.”
- Lucas Bols is the world’s oldest distilled spirits brand and one of the oldest Dutch companies still in business. Building on its more than 440 year-old heritage dating back to 1575, the company has mastered the art of distilling, mixing and blending liqueurs, genever, gin and vodka.
- Lucas Bols owns a portfolio of more than 20 premium and super premium brands of different spirits used in cocktail bars worldwide. Its products are sold in more than 110 countries around the world.
- Lucas Bols has been listed on Euronext Amsterdam (BOLS) since 4 February 2015.
- Lucas Bols holds the number one position in liqueur ranges worldwide (outside the USA) and is the world’s largest player in the genever segment. Many of Lucas Bols’ other products have market or category-leading positions.
- Furthermore, Lucas Bols is a leading player in the bartending community. Through the House of Bols Cocktail & Genever Experience and Europe’s largest bartending school, the Bols Bartending Academy, the company provides inspiration and education to both bartenders and consumers.