Evos, (owned by investment funds managed by First Sentier Investors) has successfully refinanced (through Evos Finance BV) its outstanding debt facilities and extended these facilities to acquire 100 percent ownership of terminals in Amsterdam, Terneuzen, Ghent and Malta from Oiltanking GmbH and 3i Infrastructure plc, in order to support the growth and development of the group.
The new debt facilities amount to €1,295 million in total and are a mix of new bank facilities, private placement issuances and guarantee facilities. The facilities replace the acquisition financings that were implemented when the group was formed in 2019 and extend the weighted average maturity profile of the debt.
The debt facilities have been increased to provide the company with greater financial flexibility to further pursue its growth agenda, starting with the purchase of 100 percent ownership of the terminals in Amsterdam, Terneuzen, Ghent and Malta that was announced on September 23 2021 and completed on November 4 2021, following the relevant approvals by third parties.
The financing includes a sustainability-linked loan and note with pricing dependent against the performance of Evos on its ESG metrics.
Alex Nassuphis, director First Sentier Investors and member of the Evos supervisory board, said: “This transaction marks a significant step for Evos and provides an excellent opportunity for the business to continue its strong growth and development. The increased scale of the platform will further improve the service offering and will facilitate the pursuit of energy transition opportunities. Furthermore, the establishment of a sustainability linked financing aligns with First Sentier’s strategic objectives to contribute across its portfolio to the UN Sustainable Development Goals.”
Koert Schouten, CFO of Evos, said: “We are really happy with the successful refinancing and acquisition of the terminals in Amsterdam, Terneuzen, Ghent and Malta. We have implemented a stable funding base that allows the business to grow and invest in its future. In addition, we have built long-term relationships with our lending group who support the business and our sustainability goals.”
For more information visit www.evos.eu
