Macquarie Infrastructure Corporation has successfully completed a refinancing of its International-Matex Tank Terminals (IMTT) of around $1.7 billion (€1.5 billion) of long-term debt and revolving credit facilities.
The Standard & Poor’s and Fitch rating agencies have reviewed the financial condition of IMTT and both have assigned investment grade ratings of BBB – with a stable outlook to the credit.
The business has also been provided with access to a revolving credit facility of $600 million (€551 million) that is currently undrawn.
The proceeds to be used, in part, to support continued growth.
James Hooke, CEO of MIC, says: ‘We are pleased with the outcome of the refinancing of IMTT and the receptivity of the market to the credit.
‘The issuance of investment grade credit ratings by both S&P and Fitch underscores the sound financial condition of the business.’