Clearwater International advises Oiltanking, a subsidiary of Marquard & Bahls, on a comprehensive refinancing

Clearwater International has advised Oiltanking GmbH (Oiltanking), a subsidiary of the Marquard & Bahls AG group (Marquard & Bahls), on a comprehensive refinancing. Marquard & Bahls is one of the global leading independent energy storage and trading companies with revenues in excess of €12bn.

The €1.5bn refinancing comprised of a revolving credit facility, a term loan and a bridge loan facility fully underwritten by two banks and subsequently syndicated to a small bank group. The refinancing marks Oiltanking’s progression to an investment grade borrower with no covenants and attractive margins.

The bridge loan will be partially refinanced through the issuance of a promissory note early 2020 with a bond issuance planned for 2021.

Founded in 1972, Oiltanking has been active in tank storage logistics and is one of the largest independent operators of tank terminals for oils, gases and chemicals worldwide. The company owns and operates 70 terminals in 23 countries with a total storage capacity of 20m cbm.

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    refinancing comprised of an RCF, a term loan and a bridge loan facility
    Reestructuración de deuda
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    Adviser to Oiltanking on refinancing

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