December 23, 2024 [Tank Storage]- LBC has announced that it has raised €225 million through a recent US private placement (USPP) issue. Over the past decade, LBC has realised substantial growth, driven by its focus on upgrading infrastructure and expanding capacity to accommodate new products and services.

The capital raised will fund LBC’s next phase of growth and will be allocated as follows: €100 million funded on 11 December 2024, and €125 million will be funded on 21 May 2025, at no additional cost.

Key highlights include the issue being oversubscribed 6.4 times in total, with initial plans to raise €175 million but upsized to €225 million due to strong demand. LBC attracted nine lenders, seven of which are new to the LBC credit. Pricing was also tightened inside the lower end of guidance. NAB and CA-CIB acted as joint placement agents for this issue.

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