Royal Vopak signs agreements for a new debt issuance of EUR 400 million equivalent
Rotterdam, the Netherlands; 24 April 2023
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%. For the EUR denominated Notes of 193 million the weighted average fixed annual interest rate is 4.65%.
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 U.S. 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.
About Royal Vopak
Royal Vopak is the world’s leading independent tank storage company. We store vital products with care. Products for everyday life. The energy that allows people to cook, heat or cool their homes and for transportation. The chemicals that enable companies to manufacture millions of useful products. The edible oils to prepare food. We take pride in improving access to cleaner energy and feedstocks for a growing world population, ensuring safe, clean and efficient storage and handling of bulk liquid products and gases at strategic locations around the world. We are excited to help shape a sustainable future by developing infrastructure solutions for new vital products, focusing on zero- and low-carbon hydrogen, ammonia, CO2, long duration energy storage and sustainable feedstocks. We have a track record of over 400 years in navigating change and are continuously investing in innovation. On sustainability, we are ambitious and performance driven, with a balanced roadmap that reflects key topics that matter most to our stakeholders and where we can have a positive impact for people, planet and profit and the United Nations Sustainable Development Goals. Vopak is listed on the Euronext Amsterdam and is headquartered in Rotterdam, the Netherlands. For more information, please visit www.vopak.com
For more information please contact
Analysts and Investors: Fatjona Topciu - Head of Investor Relations
investor.relations@vopak.com
Press: Liesbeth Lans - Manager External Communication global.communication@vopak.com
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