Wavin update on capital structure discussions

Wavin N.V. (www.wavin.com), a leading supplier of plastic pipe systems and solutions in Europe, yesterday announced that the company has reached agreement with the coordinating banks of its lending facility (Fortis Bank Nederland, ING, Rabobank and RBS) on the outline of a comprehensive recapitalisation package.

The financing package would include an amendment and restatement of the existing debt facility and a forward start agreement of EUR 475 million to extend the maturity of the company´s debt facility to April 2013. Furthermore, the company is in advanced discussions with relevant parties on a EUR 225 million capital raise, mainly through a rights issue. The company has postponed discussions with CVC on a potential private placement of convertible securities.

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The capital raising would be conditional, amongst others, upon support from the syndicate banks for the amendment and restatement of the existing facility and the forward start facility as well as shareholder approval at an EGM.

About Wavin
Wavin is the leading supplier of plastic pipe systems and solutions in Europe. The company provides essentials: plastic pipe systems and solutions for tap water, surface heating and cooling, soil and waste, rain- and storm water, distribution of drinking water and gas and telecom applications. Wavin is headquartered in Zwolle (The Netherlands) and has a presence in 28 European countries, with manufacturing sites in 16 of those and one in China. The company employs approximately 7,000 people and reported revenue of almost EUR 1.6 billion for 2008. Outside Europe, it has a global network of agents, licensees and distributors. Wavin is listed on the NYSE Euronext Amsterdam stock exchange (WAVIN).

Wavin N.V., Zwolle, The Netherlands