Oiltanking Finance successfully concludes private placement
09.10.2009 - NEWS
Oiltanking Group´s long-term debt capital need is secured

Amsterdam/Hamburg, September 10, 2009 – After Oiltanking’s initial placement in 2003, Oiltanking Finance B.V., the Oiltanking Group’s financing subsidiary, has successfully completed another transaction on the U.S. private placement market. The debt capital need of Oiltanking, an international independent provider of tank storage for petroleum products, chemicals and gases, is thus secured for the years to come.

The offering that was initially designed for a volume of USD 100 million, was heavily oversubscribed with offers totalling more than USD 640 million upon closing of the order book. In the end, Oiltanking Finance B.V. decided to take up debt capital totalling USD 240 million and EUR 100 million with very favourable interest conditions. All loans provide for bullet-repayments at the end of their tenures and feature terms between 8 and 20 years.

All in all, 18 institutional investors participated in the transaction; for 14 it was the first Oiltanking investment. It is also noteworthy that the group of investors also included investors, who had previously not been involved in the private placement market or only just returned to the market after a longer absence. Deutsche Bank and Royal Bank of Scotland advised Oiltanking Finance B.V. in this transaction.

Dr. Claus-Georg Nette, CFO of the holding company Marquard & Bahls AG, is very pleased with the result: “This transaction puts Oiltanking in a comfortable position. It can thus continue to pursue controlled growth within the bounds of its conservative financial policy. Especially now that procuring liquidity has become very hard for companies, this is an excellent starting position for the further business development. Oiltanking has proved once more that it is an attractive company for debt capital investors. This is mainly due to the long-term nature of its business model, the stable cash flows and the good future development prospects.”

Oiltanking Finance B.V., Amsterdam, was founded at the end of 2008 as a subsidiary of Oiltanking GmbH, which in turn belongs to Marquard & Bahls AG from Hamburg, Germany. Oiltanking is the second-largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 68 terminals in 21 countries in all of Europe, America and Asia and has an overall capacity of 16.2 million cubic meters.

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