Alkion completes a sustainability linked refinancing of its financial debt and raises additional capex facility to support a EUR 100m client driven investment program in its 9 terminals

Alkion Terminals BV (“Alkion”) is pleased to announce the completion of a landmark sustainability linked refinancing of its debt facilities from a group of blue-chip international lenders. The term loans and ancillary facilities amount to EUR 370m (including a EUR 100m capex and acquisition facility) and refinances the previous financing package of EUR 255m m raised in 2019.

The improved pricing of the new debt structure is linked to three specific sustainability targets whose compliance will be monitored by an independent specialized audit firm. This commitment to financial and extra-financial impact based objectives demonstrates the commitment of Alkion and its shareholders in leading on sustainability matters as a driver of long term value for all stakeholders including clients, employees, local communities and shareholders. Driven by customer demand for petrochemical and biofuels storage, the EUR 100m capex facility raised will finance the 2022-2025 growth program in the terminals which further increases capacity and enhances operational excellence and automation.

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, stated “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”. We are very pleased with the renewed confidence of 100% 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”.
Source: Alkion