20.07.2016. TanQuid has refinanced its bank debt facilities by raising €150 million in loan financing plus €125 million in privately placed notes.
The refinancing provides TanQuid with the capital required to deliver its business plan, materially extends the maturity of all of its external debt financing and significantly reduces the cost of its external debt, the German storage company said.
CEO Jens Moir commented: “TanQuid is very pleased to announce our refinancing, which demonstrates the continued faith the capital markets have in our company to deliver on our business plan and maintain our position as the leading independent operator of oil and chemical storage products in Germany and Poland.”
Head of Finance Luciano D’Agostino added: “The optimal combination of bank debt and private placement reflects the confidence of the capital market in our business.”
The bank debt was provided by three lenders comprising Commerzbank AG, Credit Agricole CIB and The Bank of Tokyo-Mitsubishi UFJ. The private placement was subscribed to by four institutional investors including Babson Capital, Edmond de Rothschild’s BRIDGE, IFM Investors and Schroders.
The company was advised by Macquarie Capital and Clifford Chance with funders advised by Allen and Overy.

20th July 2016