135 HEINEKEN N.V. ANNUAL REPORT 2008 35. Subsequent events On February 9, 2009 the £3.85 billion S&N acquisition facility (available and drawn amount per 31 December 2008: €4,064 million) was restated to become a facility with two base currencies, one for £480 million and the other for €3.1 billion. Without this conversion the available amount expressed in euros could fluctuate if the exchange-rate moved beyond certain thresholds. As from 15 January 2009 onwards, before the facility was restated, a series of repayments was triggered of €100 million on the one-year tranche with an extension option to a total of two years expiring in April 2010 and a repayment of €325 million on the five-year tranche expiring in April 2013. These repayments were financed out of the Revolving Credit Facility of €2 billion of which €470 million was drawn per 31 December 2008. To mitigate the impact of these repayments on the headroom of the Group, Heineken has recently obtained a credit commitment from ING for a fully committed two-year standby facility for €250 million.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2008 | | pagina 137