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Corporate refinancing to boost VTTI’s ambitious growth strategy

October 30, 2020
Corporate refinancing to boost VTTI’s ambitious growth strategy

VTTI has successfully concluded a new corporate refinancing providing the company with greater flexibility to further pursue its ambitious growth agenda. The new bank facilities and private placement issuances will help VTTI capitalise on opportunities to grow its terminal network in the market for energy and other essential products.

The refinancing will further enable VTTI’s diversification path, which includes working towards storage and blending solutions that enable energy alternatives. VTTI’s facilities store energy and other essential products, including chemicals, LPG and biofuels, and the company aims to add LNG to its portfolio in the near future.

The financing improves VTTI’s funding costs and includes a new USD100m and new USD350m revolving credit facility provided by a group of international banks and ca. USD194m private placement issuances with staggered maturity and drawing profiles. VTTI secured investment grade ratings to support the private placement issuances.

VTTI CFO Hans van Geloven said: “This transaction marks a significant step for our company. The capital structure that has been implemented provides VTTI with more flexibility and reduces future financing risk as the business continues on its growth trajectory. The support from the banks and institutional lenders has been tremendous and we are very grateful to have long-term partnerships with all of them.”


Further information

DC Advisory (financial) and Shearman & Sterling (legal) advised VTTI, with Latham and Watkins advising the lenders.

CIBC, Intesa Sanpaolo, ING, KfW Ipex, Santander and BNP provided the RCF facilities whilst Allianz and Barings provided the private placement issuance.






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