Cascal N.V. Executes Amendment and Extension of HSBC Revolving Credit & Guarantee Facility
June 29 2009 - 7:00AM
PR Newswire (US)
Agreement extended until June 30, 2011 LONDON, June 29
/PRNewswire-FirstCall/ -- Cascal N.V. (NYSE:HOO), a leading
provider of water and wastewater services in seven countries,
announced today that it has entered into an amendment and extension
of its revolving credit and guarantee banking facility effective
June 26, 2009. The banking facility consists of a $60 million
revolving credit facility and a $10 million guarantee facility. The
terms of the facility provide that the loan is revolving until June
30, 2011 and may be extended to June 30, 2012 should the parties
agree. The facility has been renewed under substantially the same
terms and conditions with the exception of higher interest rate
margin in line with current market trends. Commenting on the
completion of this transaction, Stephane Richer, Cascal Chief
Executive Officer, stated, "I am pleased that we have been able to
renew and extend our main corporate banking facility on reasonable
terms with our main corporate bankers, HSBC. Our ability to secure
credit in this environment speaks to the market's confidence in our
business model and our ability to leverage our current operations."
About Cascal N.V. Cascal provides water and wastewater services to
its customers in seven countries: the United Kingdom, China, South
Africa, Chile, Indonesia, Panama and The Philippines. Cascal's
customers are predominantly homes and businesses representing a
total population of approximately 4.3 million. Forward-looking
statements This release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to the future of our operations
in Panama. Such forward-looking statements are not guarantees of
future performance. There are important factors, many of which are
outside of our control, that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements including: general economic business conditions,
unfavorable weather conditions, housing and population growth
trends, changes in energy prices and taxes, fluctuations with
currency exchange rates, changes in regulations or regulatory
treatment, changes in environmental compliance and water quality
requirements, availability and the cost of capital, the success of
growth initiatives, acquisitions and our ability to successfully
integrate acquired companies and other factors discussed in our
filings with the Securities and Exchange Commission, including
under Risk Factors in our Form 20-F for the fiscal year ended March
31, 2008, filed with the SEC on June 25, 2008. We do not undertake
and have no obligation to publicly update or revise any
forward-looking statement. Investor Contacts: KCSA Strategic
Communications Jeffrey Goldberger / Yemi Rose +1 212.896.1249 / +1
212.896.1233 / DATASOURCE: Cascal N.V. CONTACT: Investors, Jeffrey
Goldberger, +1-212-896-1249, , or Yemi Rose, +1-212-896-1233, ,
both of KCSA Strategic Communications
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