Alkion Terminals has announced the completion of a sustainability linked refinancing of its financial debt and raises additional capex to support a EUR 100m client driven investment program in their 9 terminals responding to the growing demand for petrochemicals and biofuels storage.
The improved pricing framework of the new debt structure is linked to three specific sustainability targets whose compliance will be monitored by an independent audit firm, demonstrating the commitment of Alkion and its shareholders in leading on sustainability matters as a driver of long-term value for their customers, employees and local communities.
The financing package comprises bank facilities provided by Credit Agricole CIB, BNPP, Allied Irish Bank, Banca Intesa and Siemens as well as an institutional loan privately placed with funds managed by UBS Asset Management. Credit Agricole and Linklaters advised Alkion, while Clifford Chance acted as lender counsel.
At completion Rutger van Thiel, CEO of Alkion Terminals, said: “At Alkion we view sustainability as the base of economic resilience and an opportunity for growth. We take particular pride in the framework we have adopted which sets measurable sustainability targets and links our financial performance to achieving those targets. Linking our cost of debt to these targets is our way of walking the walk”.
Van Thiel added: “We are very pleased with the renewed confidence of 100 percent of our existing lenders while welcoming an additional bank in our financing pool. This financing will help us implement our 2022-2025 investment plan which increases capacity in our terminals on petrochemicals, base oils and biofuels”.
For more information visit www.alkion.com
