Refinancing debt of up to US$1.7 billion
Advised VTTI Finance B.V. (“Borrower”) in respect of the refinancing of debt consisting of a mix of US Private Placement Notes, Bank Term Loans, and an undrawn Revolving Credit Facility up to US$1.7 billion (“Refinancing”), from a 乐鱼体育官网n law perspective. The Borrower is co-owned by (a) Vitol Group, (b) IFM Investors, and (c) the Abu Dhabi National Oil Company. The Refinancing contemplates various 乐鱼体育官网n security to be provided by ATT Tanjung Bin Sdn. Bhd., a related corporation of the Borrower which is incorporated in 乐鱼体育官网. The funds raised from the Refinancing will be used to finance the Borrower group’s growth and sustainability goals
The Refinancing consists of a mixture of US Private Placement Notes, Bank Term Loans, and an undrawn Revolving Credit Facility, with a new common terms platform in place to provide the Borrower with the flexibility to raise bank debt and private placements in the future.
The Refinancing also includes an Environmental, Social, and Governance (“ESG”) linked tranche, which is the VTTI group’s first ESG-linked loan.
Advising the Borrower was Partner Kelvin Loh.
