Rotterdam, The Netherlands, 2 August 2007
Vopak today announces that it has successfully closed a new EUR 1 billion senior unsecured multicurrency revolving credit facility with a banking syndicate of 12 international relationship banks. This facility will be used to support the growth strategy of Vopak going forward.
Jack de Kreij, Member of the Board and Chief Financial Officer: “This revolving credit facility provides us with the flexibility necessary to execute our business ambitions as reflected in our growth strategy. The credit facility is part of our overall funding strategy and is another successful transaction after our most recent issuance of USD 375 million in US Private Placement Notes last May 2007. With this transaction we have expanded our core banking group to twelve banks”.
The new facility will have an initial maturity of 5 years with two extension options of 1 year each. Also included is an option to increase the facility amount to EUR 1.2 billion. This new facility replaces a revolving credit facility of EUR 500 million which was concluded in July 2005 and which is currently fully unutilised.
The new syndicate of banks consists of:
Royal Vopak (Vopak) is the world’s largest independent tank terminal operator specialising in the storage and handling of liquid and gaseous chemical and oil products. On request, Vopak can provide complementary logistics services for customers at its terminals. Vopak operates 75 terminals with a storage capacity of more than 21 million cbm in 30 countries. The terminals are strategically located for users and the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.