DC Advisory advises abrdn on the refinancing of its portfolio company Oikos
Background
- Oikos Storage Ltd (Oikos) is an independently owned, specialist operator of bulk liquid storage facilities that has been in operation since 1936
- Oikos has 300,000cbm of storage capacity across 36 modern, state of the art tanks configured to store jet, diesel, HVO, ethanol, bio-methanol and FAME
- Oikos is located in Canvey Island, a prime location on the Thames Estuary providing deepwater jetties and strategic access to serve the Southeast of England, including major international airports, via connections to major UK pipelines and road export
Process
- Having advised abrdn on its 2019 acquisition of Oikos, DC Advisory was appointed as exclusive financial advisor on the refinancing of the existing debt facilities
- DC Advisory leveraged its existing knowledge of the asset, as well as extensive experience on midstream infrastructure financings, to run a comprehensive and competitive refinancing process, including:
- Financial modelling
- Debt structuring
- Lender marketing materials and due diligence
- Full documentation negotiations
- Overall process management
Outcome
- DC Advisory delivered a market leading outcome to meet Oikos’ objectives, raising an attractive £70m long-term financing from institutional investors
- Key highlights of the financing include:
- Securing long-term institutional debt
- Optimising debt structure reflecting the long-term contractual nature of the business
- Highly bespoke documentation terms designed to facilitate Oikos’ business plan and growth
- This transaction reinforces DC Advisory’s extensive expertise in the midstream infrastructure sector
What to read next
Deal Announcement
Date
Sectors
- Infrastructure
Deal type
- Debt Advisory & Restructuring
Deal locations
Deal team
Managing Director
Actions
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