Shearman & Sterling advised VTTI on a new corporate refinancing. The financing includes a $100 million and $350 million revolving credit facility provided by a group of international banks and $194 million private placement issuances with staggered maturity and drawing profiles. VTTI secured investment grade ratings to support the private placement issuances.
VTTI is one of the world’s largest energy storage providers. The new bank facilities and private placement issuances will help VTTI capitalise on opportunities to grow its terminal network in the market for energy and other essential products.