Royal Vopak to place $225 million, €193 million senior notes

By Marisa Wong

Los Angeles, April 24 – Royal Vopak announced it signed note purchase agreements for a debt issuance in the U.S. private placement market totaling $225 million and €193 million.

This senior notes program consists of various euro and dollar tranches with maturities ranging from five to 10 years, according to a press release. For the dollar-denominated notes, the weighted average fixed annual interest rate is 5.14%. For the euro-denominated notes, the weighted average fixed annual interest rate is 4.65%.

Funding will take place mid-June and is subject to customary closing conditions.

Proceeds will be used mainly to repay outstanding 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 its current €1 billion revolving credit facility.

Royal Vopak is a tank storage company based in Rotterdam, the Netherlands.

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