News
OOTS secures a 6 year Syndicated Term Loan Facility
07.07.2009 - Singapore:
Oiltanking Odfjell Terminal Singapore Pte Ltd (“OOTS” or the “Company”) has signed a SGD 200 million Syndicated Term Loan Facility (the “Facility”) with DBS Bank Ltd, Calyon, and Oversea-Chinese Banking Corporation Limited as Mandated Lead Arrangers on June 22, 2009.
DBS Bank Ltd was the sole Bookrunner for the Facility. Proceeds from the 6 year Facility will be used to refinance existing loans and to finance the Company’s expansion project on Jurong Island.
In the midst of the global credit crunch and the subsequent dearth of syndicated loan transactions, OOTS has emerged as the one of the very few companies in Asia who has been able to successfully tap the syndication loan market for a facility with tenor of more than 5 years.
The Facility is regarded as an acknowledgement of the Company’s robust position as one of the leading independent chemical storage providers in Singapore and a reaffirmation of its sound business profile and growth potential.
Oiltanking Odfjell Terminal Singapore Pte Ltd is a 50/50 joint venture between Oiltanking GmbH and Odfjell SE. OOTS, incorporated in December 1999, owns and currently operates a 226,000 cubic metre (cbm) chemical storage terminal in Jurong Island.
Odfjell SE
The Odfjell Group is a leading participant in the global market of the seaborne transportation and storage of chemicals and other speciality bulk liquids. The Odfjell fleet exceeds 90 ships, trading both globally and regionally. The tank terminal division consists of eight fully or partially owned tank terminals and nine associated tank terminals strategically located. The Odfjell Group is headquarted in Bergen, Norway and has about 20 offices located world wide. Odfjell has about 3 700 employees and an annual gross revenue of about USD 1.5 billion.
Oiltanking is a subsidiary of Marquard & Bahls AG, Germany, a leading privately owned petroleum company. Oiltanking is the second-largest independent tank storage provider for petroleum products, chemicals and gases world-wide. The company owns and operates 68 terminals in 21 countries within Europe, North and South America, Middle East, India as well as Asia. Oiltanking has an overall capacity of 16.2 million cubic meters.
For more information on Oiltanking and Marquard & Bahls, please visit www.oiltanking.com and www.mbholding.com.
For media inquiries, please contact:
Mr Gust Spaepen
Managing Director
Oiltanking GmbH
Tel : +49-40-370 99-0
Email : gust.spaepen@oiltanking.com
Mr Rutger van Thiel
Chief Executive Officer
Oiltanking Odfjell Terminal Singapore Pte Ltd
Tel : +65-6473 1700
Email : rutger.van.thiel@oiltanking.com