Boskalis Half Year Report 2020

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OTHER DEVELOPMENTS

EUR 500 MILLION REVOLVING CREDIT FACILITY

uncertainty related to the COVID-19 outbreak, Boskalis announced on 2 April 2020 the suspension of the share buyback program as per 3 April 2020 close of business. As per that date, 61,60% of the program had been completed. The current issued share capital of Boskalis consists of 135,378,338 ordinary shares, of which 4,366,654 are treasury stock held by Boskalis.

Mid-April, Boskalis announced the refinancing of its revolving credit facility providing the company with EUR 500 million committed bank financing until April 2025. The new facility was coordinated by ING Bank and is provided by a syndicate of seven banks. Within the new facility there is an option to increase the facility size by an additional EUR 150 million as well as two one-year extension options. With the new facility in place, Boskalis’ financing structure is well spread and long dated.

ACQUISITION REMAINING SHARES HORIZON

Early 2020, Boskalis acquired the remaining 37.5% stake in the Horizon Group (Horizon). In 2019, Boskalis already acquired 62.5% of the shares. Through this transaction, Boskalis has expanded its position in the marine geophysical and geotechnical survey market. Horizon will continue to focus on its traditionally strong market position in the Middle East and Northwest Europe with opportunities to expand into the emerging offshore wind market in the Far East making it

SHARE BUYBACK PROGRAM

On 15 March 2019, Boskalis announced the start of a EUR 100 million share buyback program. The buyback program was aimed at reducing the issued share capital. As a consequence of the global developments and

OTHER DEVELOPMENTS

The trailing suction hopper dredger Prins der Nederlanden departs from Manila, where it made a short stop for a crew change in July as travel restrictions prevented Filipino crew from flying home earlier

HALF YEAR REPORT 2020 – BOSKALIS