Q-Park Refinances for EUR 925 Million

Jul 31, 2015, 04:00 ET from Q-Park NV

MAASTRICHT, the Netherlands, July 31, 2015 /PRNewswire/ --

Q-Park has signed a Credit Facility of EUR 925 million to refinance the existing Group Credit Facility of EUR 1.15 billion. The Credit Facility is provided by an international bank syndicate of 5 banks: ABN AMRO (Coordinator), Rabobank, ING Bank, KBC Bank and HSBC.

The new credit facility, at competitive conditions and favourable terms, incorporates the option of a security release mechanism. The potential final maturity of up to 7 years, subject to extension options, guarantees Q-Park's continuity and financial stability.        

Frank De Moor, CEO: "We are delighted with the international bank syndicate's long-term commitment to Q-Park which demonstrates their confidence in our strategic direction."

ABN AMRO, on behalf of the banks: "We are very pleased to have been able to successfully close this Credit Facility for the amount of EUR 925 million. Q-Park took the opportunity to redefine its core bank group. The syndicate banks are very keen to support Q-Park in the coming years. This transaction underlines the confidence which the banks have in Q-Park's business model."

About Q-Park

Q-Park is one of the leading providers of parking facilities in Europe, whether wholly-owned, under management or in a hybrid business model. Q-Park is a recognised leader in quality in parking, has a portfolio of almost 6,000 parking facilities with more than 830,000 parking spaces and a strong market position in ten North-West European countries: the Netherlands, Germany, Belgium, United Kingdom, France, Ireland, Denmark, Sweden, Norway and Finland.