Vopak Borrows 20 Billion Yen from Asian Investor

Dutch oil and chemicals storage firm Vopak said on Tuesday it had borrowed 20 billion yen ($240 million)for 30 years from a single Asian investor to fund its expansion.

The 30-year, fixed-rate and unsecured term loan follows a S$225 million private placement last month in the Asian market. Vopak did not identify the Asian investor.

"It also contributes to a further improved financial maturity profile and interest rate structure of the outstanding debt," said Jack de Kreij, chief financial officer, in a statement.

Vopak, the world's largest independent storage tank operator, handles bulk liquid chemicals, gases and oil products.