Fri 4 Feb 2011, 19:46 GMT

Vopak closes EUR 1.2 billion credit facility


New revolving credit facility will be used to support Vopak’s growth strategy.



Vopak has successfully closed a new EUR 1.2 billion senior unsecured multicurrency revolving credit facility with a syndicate of 14 international relationship banks.

This new facility replaces the current revolving credit facility (RCF) of EUR 1.0 billion, which was concluded in August 2007. The new RCF is fully available for drawdown and will have an initial maturity of five years with two extension options of one year each.

The new syndicate of banks consists of:

- ABN AMRO, BNP Paribas, Citi, DBS bank, DnB NOR Bank, ING Bank, JP Morgan, Mizuho, Rabobank and The Royal Bank of Scotland as Bookrunning Mandated Lead Arrangers;

- Bank of Tokyo-Mitsubishi UFJ, Crédit Agricole, Handelsbanken and Standard Chartered as Mandated Lead Arrangers.

Jack de Kreij, Vice-Chairman of the Executive Board and Chief Financial Officer said: ‘Our strategic finance policy focuses on ensuring flexible access to various capital markets and funding sources to support Vopak’s growth strategy, facilitating a continuous balanced and well-spread debt maturity profile at appropriate terms and conditions that match Vopak’s solid credit quality.

"Following the successful completion of several long term debt transactions in US and Asian Private Placement markets since 2007, this new revolving credit facility secures the continued funding flexibility necessary to execute our business ambitions. With this transaction we have also further aligned our core banking group with the different project-based growth opportunities in different regions."


Container ship near a port. Ammonia emerges as most feasible alternative fuel for deep-sea shipping in 2050 emissions study  

Research combining expert survey and technical analysis ranks ammonia ahead of hydrogen and methanol.

Cargo vessel at sea. EMSA study examines biodiesel blend spill response as shipping adopts alternative fuels  

Research addresses knowledge gaps on biodiesel-conventional fuel blends as marine pollutants and response measures.

BIMCO ETS BARECON clause 2026 graphic. BIMCO adopts ETS clause for bareboat charters, delays biofuel provision  

BIMCO’s Documentary Committee has approved an emissions trading compliance clause while requesting further work on a biofuel charter provision.

SALEFORM 2025 standard form graphic. BIMCO and Norwegian Shipbrokers’ Association launch SALEFORM 2025 ship sale contract  

Updated agreement addresses banking changes, compliance requirements and environmental regulations affecting vessel transactions.

Everllence H2 test engine. Everllence develops hydrogen test bench for marine engines  

German engine maker upgrades Augsburg facility under HydroPoLEn project backed by federal maritime research funding.

CMA CGM Osmium vessel. CMA CGM names 13,000-teu methanol-fuelled containership in South Korea  

CMA CGM Osmium to operate on Asia–Mexico service as part of the carrier’s decarbonisation strategy.

NorthStandard logo. NorthStandard publishes biofuel guide as marine insurance claims emerge  

White paper addresses quality issues and compliance requirements as biofuel testing volumes surge twelvefold.

Clean Maritime Fuels Platform (CMFP) logo. Maritime fuel platform calls for EU shipping ETS revenues to fund clean fuel deployment  

Clean Maritime Fuels Platform urges earmarking of national emissions trading revenues for renewable fuel infrastructure.

Seatransport 73m SLV Lloyd’s Register grants approval for hybrid nuclear power design for amphibious vessels  

Classification society approves Seatransport’s concept integrating micro modular reactors with diesel-electric systems.

Everllence ME-LGIE engine. Everllence and Vale partner on ethanol-powered marine engine development  

Brazilian mining company to develop dual-fuel ethanol engines based on ME-LGI platform.





 Recommended