Royal Vopak Successfully Renewed EUR 1B Sustainability-Linked Revolving Credit Facility

Source: www.gulfoilandgas.com 6/30/2022, Location: Europe

With the help of a syndicate of 12 international relationship banks, Vopak was able to successfully extend its EUR 1 billion senior unsecured revolving credit facility (RCF). The existing RCF of EUR 1 billion, which has been in place since June 2016, is replaced by this new facility. The new RCF is based on how we execute on three important goals from Vopak's sustainability roadmap: improving safety, increasing the representation of women in senior management, and cutting greenhouse gas emissions. The original maturity of the new RCF is five years, with two possibilities for one-year extensions.

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: "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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