ROCKVILLE, Md., March 23, 2010 (GLOBE NEWSWIRE) -- Telvent (Nasdaq:TLVT), the IT company for a sustainable and secure world, announced today that the Company has signed € 170 million in senior unsecured syndicated facilities. The syndicated facilities are distributed over two tranches:
- Tranche A: a € 100 million 3+1-year Amortizing Term Loan
- Tranche B: a € 70 million 3+1-year Revolving Credit Facility
The purpose of Tranche A is to refinance existing bank debt and general corporate purposes, while Tranche B is used to refinance partially the working capital facility currently provided by former majority shareholder Abengoa, S.A.
The syndicated facilities have been partially underwritten by Barclays Capital and ING Bank N.V. acting as Bookrunners together with Caja Madrid and La Caixa, while The Royal Bank of Scotland has acted as Mandated Lead Arranger. General syndication is expected to be launched in due course.
ING has acted as Sole Coordinator and Financial Advisor of Telvent in this transaction.
"We are very pleased to sign these new syndicated financing mechanisms," said Manuel Sanchez, Telvent Chairman and CEO. "They provide our organization with important flexibility in refinancing parts of our operation."
About Telvent
Telvent (Nasdaq:TLVT) is a global IT solutions and business information services provider that improves the efficiency and reliability of the world's leading companies. Telvent serves markets critical to the sustainability of the planet, including the energy, transportation, agricultural and environmental sectors. (www.telvent.com)
The Telvent GIT S.A. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6852