AD Ports Group (AD Ports) has successfully refinanced and upsised its existing Revolving Credit Facility (RCF) from $1 billion to $2.125 billion.
This move aims to optimise the Group’s financing costs by improving interest margins and extending the maturity of the RCF from 2026 to 2028, with an option to extend further until 2030.
The new facility has garnered significant interest from local, regional, European, Asian, and international banks, leading to an oversubscription of over 2.5 times the facility amount. With the new RCF in place, AD Ports Group will broaden its banking pool from nine to 18 banks, enhancing its financial flexibility and access to a larger funding pool.
READ: CMA CGM, AD Ports launch sustainable container terminal at Khalifa Port
Martin Aarup, Group Chief Financial Officer, AD Ports Group commented: “The overwhelming interest in our new RCF and the resulting oversubscription underscore the confidence that the banking community has in AD Ports Group’s robust financial health and strategic direction.
“This refinancing allows us to optimise our financing costs and strengthens our liquidity position to support our short and medium-term growth objectives. “Additionally, the extension of the revolving credit facility maturity to 2028, with the potential to extend until 2030, provides us with greater financial flexibility and thus better planning options.”
AD Ports Group is rated “AA-” with a stable outlook by Fitch and A1 with a stable outlook by Moody’s Ratings.
