ING, Rabo underwrite €500m Imtech rights issue
Royal Imtech, a Dutch provider of technical services for building, is to launch a €500m rescue rights issue after €300m of write-downs and an investigation into the company’s accounts halved the company’s market capitalisation to around €800m.
ING and Rabobank have committed to underwrite the deal. They are expected to seek to widen the syndicate before the rights issue is launched, which is expected to happen before the summer.The banks have provided a 500m bridge loan, 200m of which is dependent on the company reaching ...
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