Odfjell SE : Odfjell Holding (US) Inc Secures USD 200 million
financing for further expansions

05-10-2012

Odfjell Holding (US) Inc, a subsidiary of OTLG C.V. which is the Joint Venture company between Odfjell Terminals B.V. and Lindsay Goldberg LLC., has secured a USD 200 million 5-year secured credit facility from a group of five US banks.

Odfjell Holdings (US) Inc can also obtain increases in the principal amount under this facility of up to an additional USD 100 million.

Odfjell Holding (US) Inc is the owner of Odfjell Terminals (Houston) Inc and the brownfield project Odfjell Terminals (Charleston) LLC.

The funds are available through a five-year reducing revolving credit facility and the proceeds are to be used to finance the expansion projects for the Houston and Charleston terminals, general corporate purposes in the respective companies, and to refinance an existing USD 54 million indebtedness at Odfjell Terminals (Houston) Inc.

The construction at the Charleston terminal has now started and the project is on track to deliver 80,000 CBM of new tank capacity in 2013.

Odfjell Holdings (US) Inc is exploring new expansion opportunities throughout North America driven by the latest chemical expansions.

Odfjell press release