In view of early refinancing by the infra debt market, Rubis Terminal issues a redemption notice for a 2025 bond issue of €560 million

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PARIS–(BUSINESS WIRE)–Rubis Terminal issued on July 8ethe formal notice to prepay its €560 million 5.625% senior bonds, initially maturing in May 2025. These bonds will be refinanced through a new ESG-linked infrastructure debt package consisting of of :

  • A new term loan of €700 million over 7 years

  • An investment facility of €82.5 million to support the group’s development with new projects and the pursuit of transformation

  • An RCF of €30 million to be allocated to the general needs of the company

Thanks in particular to its sustained efforts over the past two years to reduce the share of fuel-related revenues, this historic operation demonstrates Rubis Terminal’s strong commitment to ESG issues. The documentation for the new financial package includes a margin grid linked to Rubis Terminal’s compliance with a series of target KPIs linked to ESG, in particular reducing the carbon intensity of the Group’s storage operations, increasing the recovery of hazardous and non-hazardous waste, and reduction of work accidents with work stoppage.

In addition, the new financial structure confirms the Group’s clear positioning within the infrastructure asset class, while enabling it to reduce its cost of debt and further increase the maturity of its debt.

Commenting on this development, Rubis Terminal Managing Director Bruno Hayem said : “The refinancing of our bonds via the infrastructure debt market will allow the Group to optimize its debt profile with reduced annual financial charges, thus enabling greater financial flexibility and agility. It is also proof of the confidence of our new lenders in our ability to defend strong ESG objectives”.

The new financial package is underwritten by Santander, DNB and CACIB who will manage the syndication process in the coming weeks. Rubis Terminal was advised by Rothschild & Co and Clifford Chance in this transaction.

About Rubis Terminal:

Rubis Terminal is a leading independent infrastructure platform for the handling and storage of bulk liquid and gaseous products. The Group operates a total storage capacity of 3.9 million cubic meters in 15 terminals in France, Spain, the Netherlands and Belgium.

The company is a joint venture co-controlled by Rubis, an independent French operator in the energy sector, listed on Euronext Paris and funds managed by I Squared Capital, an independent global infrastructure investment manager specializing in services public, digital infrastructure, energy, transport, and social infrastructure.

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