UK-based PD ports has raised a total debt facility of GBP710 million to refinance existing debt and provide for future business growth.
The 5-year arrangement, organised in conjunction with a syndicate of international banks involved in the infrastructure sector, comprises a term facility, capex facility and RCF.
CIBC acted as coordinator, lawyers Hogan Lovells advised PD Ports – Linklaters acted for the lenders.
PD Ports continues to facilitate the growth of industry around its key port facilities, a notable recent project being the establishment of the UK’s first large-scale lithium refinery at Teesport. The GBP500 million project will be used to provide battery materials for electric vehicles, renewable energy and consumer technology supply chains. Commissioning is scheduled for 2025.
