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Royal Vopak successfully renews a €1 billion sustainability-linked revolving credit facility

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Royal Vopak has successfully renewed its €1 billion senior unsecured revolving credit facility (RCF) with a syndicate of 12 international relationship banks. This new facility replaces the current RCF of €1 billion, which has been in place since June 2016.

It said the new RCF is linked to its performance on three key topics from Vopak’s sustainability roadmap: “Our safety performance, gender diversity in senior management and the reduction of our greenhouse gas emissions”.

The new RCF has an initial maturity of five years with two one-year extension options.

The new syndicate of banks consists of: ABN AMRO Bank, BBVA, BNP Paribas, CIBC, Citibank, DBS Bank, DNB, ICBC, ING, JP Morgan, Rabobank and SMBC Bank. ABN AMRO and ING acted as coordinating bookrunners and sustainability coordinators on the transaction.

Michiel Gilsing, member of the executive board and CFO of Royal Vopak, said: “We are very happy with this new revolving credit facility. All banks that were invited committed themselves to the facility.

“This reflects the strong trust and long-term relationship Vopak has with its core banks and confirms Vopak’s ongoing access to relevant capital markets. The incorporation of sustainability KPIs underlines our mutual commitment towards a more sustainable world.

“This new revolving credit facility continues to provide the funding flexibility necessary to execute Vopak’s business ambitions to grow in our base in industrial and gas terminals and accelerate towards new energies and sustainable feedstocks.”

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