Haulotte Establishes Syndicated Credit Facility for Expansion

July 8, 2005 — Pinguely-Haulotte recently announced that it has mandated BNP Paribas and Natexis Banques Populaires to set up a syndicated credit facility during the third quarter of 330 million euros ($393.8 US) for the next seven years. The two mandated lead arrangers have underwritten the financing, which was initiated on June 30.

 

According to the company, this move will enable Pinguely-Haulotte to have “all the necessary financial means to continue the development of its sales and capital expenditure, to reinforce its internationalization policy, and to seize the opportunities for external growth that could occur in the next years.”

 

Due to an order increase of 65% at the end of May compared to the same period last year, the company has adjusted its sales and profitability targets for 2005, expecting an increase of 20% to 30%.