Energy storage firm Evos has revealed announce that it has successfully refinanced its outstanding debt facilities.
It has also extended these facilities to acquire 100% ownership of terminals in Amsterdam, Terneuzen, Ghent and Malta from Oiltanking and 3i Infrastructure plc.
Evos is owned by investment funds managed by First Sentier Investors. The new debt facilities amount to €1,295 million and is a mix of new bank facilities, private placement issuances and guarantee facilities.
The debt facilities have been increased to provide the company with greater financial flexibility to further pursue its growth agenda, starting with the purchase of 100% ownership of the terminals in Amsterdam, Terneuzen, Ghent and Malta.
Alex Nassuphis, director First Sentier Investors and member of the Evos Supervisory Board, said: “This transaction marks a significant step for Evos and provides an excellent opportunity for the business to continue its strong growth and development. The increased scale of the platform will further improve the service offering and will facilitate the pursuit of energy transition opportunities. Furthermore, the establishment of a sustainability linked financing aligns with First Sentier’s strategic objectives to contribute across its portfolio to the UN Sustainable Development Goals.”
Koert Schouten, CFO of Evos, added: “We are really happy with the successful refinancing and acquisition of the terminals in Amsterdam, Terneuzen, Ghent and Malta. We have implemented a stable funding base that allows the business to grow and invest in its future. In addition we have built long-term relationships with our lending group who support the business and our sustainability goals."
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