Following the Asian Private Placement Notes Issuance in November 2010, Royal Vopak (Vopak) announces it has successfully concluded a new senior unsecured Term Loan Issuance in the Asian market. The proceeds will be used to fund Vopak’s Global Growth Strategy.
The Term Loan with a total value of JPY 20 billion has been concluded with a single Asian investor with a bullet maturity of 30 years and a fixed coupon.
After this new issuance, Vopak’s further enhanced debt maturity profile – with original maturities from 5 to 30 years – consists of approximately USD 1.4 billion US Private Placement Notes, SGD 435 million Asian Note Programs, JPY 20 billion Term Loan and a EUR 1 billion Revolving Credit Facility, which is fully available for drawdown.
Jack de Kreij, Vice-Chairman of the Executive Board and Chief Financial Officer of Vopak:
“We are very proud to announce another successfully concluded Term Loan in the Asian market shortly after the closing of our second Asian Private Placement in November of this year. The 30 year commitment of this new Term Loan not only reconfirms the confidence of institutional investors in the long-term growth potential of our company, it also contributes to a further improved financial maturity profile and interest rate structure of the outstanding debt.”
Profile Vopak
Royal Vopak is the world's largest independent tank storage service provider, specializing in the storage and handling of bulk liquid chemicals, gasses and oil products. Vopak operates 80 terminals with a storage capacity of 28.7 million cbm in 31 countries. The terminals are strategically located for users along the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.