Evos secures €950M refinancing, lands investment-grade rating
What's the deal? EvosDealroom has a profile for this one. Try Dealroom →, through its financing arm Evos Finance B.V., has completed a €950 million debt raise, refinancing much of its existing debt facilities. The liquid storage operator structured the deal as a mix of US Private Placement Notes and bank debt, and secured an investment-grade rating in the process.
Why now? The new facilities give Evos a more staggered, diversified maturity profile, extending most outstanding debt and locking in a longer-term funding structure.
What's the endgame? Evos operates a network of tank terminals across the Netherlands, Belgium, Germany, Malta, and Spain, with a combined storage capacity of 6.4 million cbm. Founded in 2019, it is owned by investment funds managed by Igneo Infrastructure PartnersDealroom has a profile for this one. Try Dealroom →.
Chief executive officer Harry Deans said the refinancing would help the company execute its strategy more effectively, citing opportunities to grow the business with customers as the energy transition continues.
Who advised? Evos was advised by Evercore as financial advisor, with CIBC and NAB acting as joint US private placement agents and Latham & Watkins providing legal counsel. Lenders were advised by Simpson Thacher & Bartlett.
Chief financial officer Koert Schouten said the company looks forward to continuing to work with existing lenders while welcoming new financial partners, calling it a stable, long-term funding base for future growth and investment.
The signal: The raise ranks in the 95th percentile of debt rounds among energy companies in the Netherlands over the trailing 48 months, across a sample of 913 deals. It reflects steady lender appetite for infrastructure assets positioned around Europe's energy transition.
Read more: storageterminalsmag.com
Image credit: Chris
