The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

TomTom Enters into Forward Start Agreement to Put Banking Facilities in Place until 2016

tom tom

AMSTERDAM--April 1, 2011: TomTom, the world's leading provider of location and navigation products and services, has signed a forward start facilities agreement comprising of a $250 million term loan facility and a $150 million revolving credit facility that will extend the maturity of the existing bank facilities that the company has in place. The new facilities will provide TomTom with financial resources for ongoing strategic and operational requirements beyond the term of the existing facilities. The facilities agreement start date is 31 December 2012 and it will mature on 31 March 2016.

$75 million of the term loan is repayable on each of 31 December 2013 and 31 December 2014, with a final repayment of $100 million payable on 31 March 2016.

The new syndicate of banks consists of ABN AMRO, ING, Rabobank International and Royal Bank of Scotland as Bookrunning Mandated Lead Arrangers and Banque LBLux, Deutsche Bank, Barclays Corporate and Morgan Stanley as Mandated Lead Arrangers. Rabobank International coordinated the transaction.