Bloomberg News

Stork Technical Said to Plan 120 Million-Euro Credit Facility

July 09, 2012

Stork Technical Services Holdco BV, an energy industry services provider, plans to raise a 120 million-euro ($148 million) credit line, according to two people with knowledge of the deal.

Stork Technical is offering to pay an initial interest margin of 400 basis points more than the euro interbank offered rate for the six-year revolving credit, said the people, who asked not to be identified because the terms are private. A basis point is 0.01 percentage point.

The credit line will be used to help fund Utrecht, Netherlands-based Stork’s business, including potential acquisitions and debt refinancing, the people said. The company is owned by Arle Capital Partners Ltd.

Julie Foster, a London-based spokeswoman for Arle, declined to comment.

Rabobank International is the agent for the credit line, said the people.

To contact the reporter on this story: Patricia Kuo in London at pkuo2@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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