Boluda Towage lands €2.15B to refinance debt and fuel growth
What's the deal? Maritime services operator Boluda TowageDealroom has a profile for this one. Try Dealroom → has raised a €2.15 billion senior secured term loan B, plus a €300 million multi-currency revolving credit facility.
The proceeds will refinance existing debt and cover general corporate and working capital needs. Latham & WatkinsDealroom has a profile for this one. Try Dealroom → advised on the deal.
Boluda operates in more than 230 ports across Europe, Africa, Asia, Oceania, and Latin America, with a fleet of over 850 vessels.
Why now? The move consolidates a string of separate financings into one combined structure.
Latham had already advised Boluda on a €1.1 billion term loan and revolving facilities in 2024, and a €735 million acquisition loan in 2025. This latest deal folds those into a single perimeter.
What could go wrong? Piling debt into one large facility raises the stakes if trade volumes soften or interest costs climb.
Term loan B structures typically carry floating rates, leaving Boluda exposed to rising borrowing costs.
The signal: As a mature, family-owned operator, Boluda has grown through repeated acquisitions financed with successive term loans; folding its 2024 and 2025 facilities into a single €2.15 billion perimeter signals a shift from piecemeal dealmaking to a consolidated balance sheet built to sustain further expansion across its 230-plus ports.
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