Fugro has decided not to proceed with a planned €500m senior secured notes offering at this time, citing “adverse market conditions” as the reason for the postponement.
The company said that as a result of the decision its current €575m revolving credit facility will remain in place.
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Settlement of the repurchase of convertible bonds due in 2021 will also not take place at this time, it added.
Fugro said that it announced on 19 and 20 February that entry into a new €200m revolving credit facility and the repurchase were subject to the completion of the offering.