VTTI Raises $1.7 Billion to Drive Growth and Sustainability Initiatives by 2028

VTTI Raises $1.7 Billion to Drive Growth and Sustainability Initiatives by 2028

(IN BRIEF) VTTI has secured $1.7 billion in financing through a mix of US Private Placement Notes, Bank Term Loans, and a Revolving Credit Facility to support its growth and sustainability goals. This refinancing will help VTTI diversify its capital sources and includes the company’s first ESG-linked loan, tied to its environmental and social targets. VTTI’s “Strategy 2028” aims to have over half of its earnings come from sustainable sources by 2028. The financing will fund energy infrastructure projects crucial for decarbonization.

(PRESS RELEASE) ROTTERDAM, 20-Sep-2024 — /EuropaWire/ — VTTI, a leading energy infrastructure company, has successfully raised $1.7 billion in financing to fuel its growth strategy. The funding consists of U.S. Private Placement (USPP) Notes, Bank Term Loans, and an undrawn Revolving Credit Facility. This refinancing allows VTTI to diversify its access to capital from a range of European and U.S. private placement lenders, while a new common terms platform enables future debt and private placements.

The financing package includes VTTI’s first Environmental, Social, and Governance (ESG) linked loan, aligning with the company’s commitment to sustainability. The loan’s metrics are tied to the organization’s ESG targets, reinforcing VTTI’s focus on transitioning to cleaner energy sources.

Hans van Geloven, EVP Finance at VTTI, highlighted that the refinancing supports the company’s “Strategy 2028,” which aims to accelerate growth with over half of its earnings coming from sustainable and transitional energy sources by 2028. The funds will be used to invest in energy infrastructure essential for the global shift towards decarbonization.

DC Advisory and Santander served as Financial Advisors and joint USPP agents, while White & Case provided legal advisory services. Latham & Watkins advised the lenders.

About VTTI:   

For over 18 years, VTTI has been a global leader in independent energy storage and now develops critical energy infrastructure needed to move towards a carbon neutral future. Fueled by its purpose, ‘Energy to Move Tomorrow,’ the company safely provides and expands access to essential energy, including fuels, chemicals, gasses, and other energy derived products and accelerates the transition to sustainable sources for customers and partners. Please visit www.vtti.com for more information.

VTTI’s headquarter is in Rotterdam, the Netherlands, and the company is owned by Vitol, IFM Investors and ADNOC.

Media Contact: 

Julie Lenzner
SVP, Communications
jll@vtti.com

SOURCE: VTTI