St1 Biokraft lands $301M syndicated financing to support its growth model
In Sweden, St1 Biokraft has secured a financing solution of EUR 260 million from leading European financial institutions. The transaction strengthens the company’s financial flexibility and supports the implementation of its growth strategy in the Nordics and Northern Europe.
The financing supports the continued expansion of St1 Biokraft’s business model, which encompasses the entire value chain from raw material supply and production to logistics, distribution and sales. It strengthens the company’s position and provides good opportunities to meet the growing demand for biogas in heavy transport, shipping and industry.
St1 Biokraft has communicated ambitious targets of 3 TWh of its own biogas production and 6 TWh in sales and distribution by 2030, supported by planned investments of EUR 1 billion in biogas production and distribution networks in the Nordic region. The majority of the proceeds will be used to finance the construction of new biogas production facilities and the continued expansion of the company’s network of liquid biogas filling stations.
The EUR 260 million financing package is provided by a banking syndicate of eight banks: ABN Amro, DNB, ING, Nordea, OP Bank, Rabobank, Sparebank1 and Swedbank. ING acted as sole financial advisor, while all participating banks acted as arrangers. ING also acted as facility agent and security agent. Together with St1 Biokraft and its owners, HitecVision and St1 Group, the banking group contributed to structuring a financing solution in line with the company’s growth strategy.
Category: Fuels
