Fugro Secures €400 Million Financing Package with Improved Terms to Support Strategic Growth

(IN BRIEF) Fugro has secured a new €400 million financing package, consisting of a €100 million term loan and a €300 million revolving credit facility with improved terms and a five-year maturity, extendable by up to two years. This replaces its previous €400 million arrangement. The financing includes EURIBOR rates of +1.65% and +1.30% for the term loan and credit facility, respectively. Fugro will update its sustainability-linked framework within nine months, introducing KPIs that will adjust interest margins based on annual ESG performance. The arrangement was facilitated by major banks, including ING, Rabobank, BNP Paribas, and HSBC, supporting Fugro’s Towards Full Potential strategy.

(PRESS RELEASE) LEIDSCHENDAM, 18-Dec-2024 — /EuropaWire/ — Fugro NV has successfully arranged a new €400 million financing agreement with its relationship banks, comprising a €100 million term loan and a €300 million revolving credit facility. Both facilities are unsecured, have a five-year maturity, and include options for up to two years of additional extensions. This new agreement will replace the company’s existing €200 million term loan and €200 million revolving credit facility.

Barbara Geelen, Fugro’s Chief Financial Officer, emphasized the benefits of the new arrangement: “Over the past months, we carefully reviewed our capital structure to secure enhanced terms and longer maturities, reflecting our strong credit profile. This financing package provides the flexibility we need to drive our Towards Full Potential strategy forward.”

Improved Financial Terms and Sustainability Integration

The new financing offers more favorable interest rates, with the term loan set at EURIBOR +1.65% and the revolving credit facility at EURIBOR +1.30%. In alignment with Fugro’s commitment to sustainability, the company will retain its sustainability-linked financing framework. Within nine months of signing, Fugro plans to update the sustainability arrangements and incorporate revised key performance indicators (KPIs) into the loan documentation.

Once these updates are in place, the facilities will transition to sustainability-linked classifications, introducing a mechanism that adjusts the interest margin based on annual performance against the defined sustainability KPIs. This framework allows for discounts or penalties tied to Fugro’s progress on its environmental, social, and governance (ESG) objectives.

Strong Banking Partnership

The financing package was arranged by a consortium of leading banks, including ING, Rabobank, BNP Paribas, HSBC, Bank of America, and Barclays.

With this new agreement, Fugro strengthens its financial foundation, positioning the company to advance its strategic goals while maintaining its focus on sustainability and long-term value creation.

About Fugro
Fugro is the world’s leading Geo-data specialist. With our unique map, model and monitor solutions, we provide project critical insights into the built and natural environment. Fugro supports clients by delivering solutions in support of the energy transition, large-scale infrastructure development and climate resilience. With expertise in site characterisation and asset integrity, clients are supported in the safe, sustainable and efficient design, construction and operation of their assets throughout the full life cycle. In line with our purpose, we are extending our know-how and solutions to the understanding and preservation of ecosystems.

Employing close to 11,000 talented people in 55 countries, Fugro serves clients around the globe, mostly in the energy, infrastructure and water industries, both offshore and onshore. In 2023, revenue amounted to EUR 2.2 billion. Fugro is listed on Euronext Amsterdam.

This release contains information that qualifies, or may qualify as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This announcement may contain forward-looking statements. Forward-looking statements are statements that are not historical facts, including (but not limited to) statements expressing or implying Fugro’s beliefs, expectations, intentions, forecasts, estimates or predictions (and the assumptions underlying them). Forward-looking statements necessarily involve risks and uncertainties. The actual future results and situations may therefore differ materially from those expressed or implied in any forward-looking statements. Such differences may be caused by various factors (including, but not limited to, developments in the oil & gas industry and related markets, currency risks and unexpected operational setbacks). Any forward-looking statements contained in this announcement are based on information currently available to Fugro’s management. Fugro assumes no obligation to in each case make a public announcement if there are changes in that information or if there are otherwise changes or developments in respect of the forward-looking statements in this
announcement.

Media Contacts:

Media Relation:
Serge van de Ven
s.vandeven@fugro.com
+31 70 31 11129
+31 6 3094 2428

Investors Relation:
Catrien van Buttingha Wichers
c.vanbuttingha@fugro.com
+31 70 31 15335
+31 6 1095 4159

SOURCE: Fugro