WAVIN 
By Amended facility increases Wavin's financial flexibility, thereby improving its balance sheet and providing support for its consolidation and development plans and programs under the Wavin 2015 strategy.
An agreement was reached for 320 million Euros in financing.
Mexico City, (Mexico) and Zwolle (the Netherlands), July 13 2012.
Mexichem S.A.B de C.V. reports that today it very successfully concluded negotiating Wavin's credit with several European banks.
An agreement for 320 million Euros in financing was reached.
Previously established guarantees and restrictions have been eliminated. This will generate annual savings of 3.2 million Euros through a reduction in the rates, [principle] and additional charges that had been applied before. The financing facility will mature in April 2015.
HSBC has joined the group of leading banks involved in this financing agreement.
The negotiation increases the financial flexibility of Wavin, which will improve the company's balance sheet and provide the support necessary for it to pursue its consolidation and development plans..
Further information
Mexichem Director of Strategic Planning and Investor Relations Telephone: +(52 55) 5279 8304 E-mail: eortega@kaluz.com | Wavin Herbert van Zijl Media Relations Telephone: +31 38 429 4209 E-mail: media@wavin.com |
Ton Bruijne Investor Relations Telephone: +31 38 429 4357 E-mail: InvestorRelations@wavin.com |
About Mexichem
Mexichem is a leader in plastic pipe systems and in the chemical and petrochemical industry in Latin America, with more than 50 years of experience in the region and 33 years on the Mexican Stock Exchange with a market capitalisation of approximately EUR 5.0 billion1. Mexichem, which exports to more than 50 countries, and has presence in Latin America, North America, Europe and Asia, has an annual turnover of approximately EUR 2.8 billion2 and EBITDA of approximately EUR 594 million2. With more than 10,000 employees throughout virtually the entire American continent, UK and Japan, the company has the largest fluorspar mine in the world and is the only fully integrated coolant gas producer in America. It is also the largest producer of PVC resin in Latin America and contributes actively to the development of the countries through products that have a wide market in the most dynamic growth sectors including construction, housing, drinking water, and urban sewage in Mexico, the United States, UK, Japan and Latin America. More details about Mexichem can be found at www.mexichem.com:
http://www.mexichem.com/.
About Wavin
Wavin is the leading supplier of plastic pipe systems and solutions in Europe. The company provides essentials: plastic pipe systems and solutions for tap water, surface heating and cooling, soil and waste, rain- and storm water, distribution of drinking water and gas and telecom applications. Wavin is headquartered in Zwolle (The Netherlands) and has a presence in 25 European countries. The company employs approximately 6,000 people and reported revenue of approximately EUR 1.3 billion for 2011. Outside Europe, it has a global network of agents, licensees and distributors. More details about Wavin can be found at www.wavin.com.
1 Based on market data from FactSet as at 1 June 2012. MXN:EUR exchange rate of 17.60.
2 Unaudited financials based on Mexichem full year 2011 results announced on 21 February 2012. MXN:EUR average exchange rate during 2011 of 17.29 from FactSet.
http://hugin.info/143050/R/1626563/520472.pdf
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Source: Wavin N.V. via Thomson Reuters ONE
