Royal Vopak announces the signing of Note Purchase Agreements for a debt issuance in the US Private Placement (USPP) market for a total amount of USD 225 million and EUR 193 million. Funding will take place mid June this year and is subject to customary closing conditions.
This Senior Notes Program consists of various EUR and USD tranches with maturities ranging from 5 to 10 years. For the USD denominated Notes of 225 million the weighted average fixed annual interest rate is 5.14 percent. For the EUR denominated Notes of 193 million the weighted average fixed annual interest rate is 4.65 percent.
The proceeds of this USPP will be mainly used to repay outstanding and/or maturing debt in 2023. The program will further align the well spread debt maturity profile of Vopak’s outstanding debt, and will provide maximum flexibility under the current EUR 1 billion Revolving Credit Facility.
Michiel Gilsing, Chief Financial Officer of Vopak: “This successful signing of the debt issuance confirms Vopak’s ongoing access to relevant capital markets. This debt issuance will further strengthen our balance sheet and support our capital structure to continue to invest in growth opportunities for Vopak in line with our strategy.”
This announcement does not constitute an offer of any securities for sale in the United States or any other jurisdiction. The securities mentioned herein have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
For more information visit www.vopak.com
