Global law firm Clifford Chance has advised Rotterdam World Gateway B.V. (RWG) on its largest financing to date, supporting the expansion of its container terminal at the Port of Rotterdam.
The financing comprised a senior US private placement alongside a private credit subordinated tranche, providing RWG and its shareholders (DP World, CMA CGM, HMM and ONE) with the liquidity and flexibility needed for RWG’s next phase of growth.
Praveen Jagadish, partner, commented: “We were delighted to help RWG and its shareholders achieve this financing, which allows the company to add its fourth and final berth for the largest container ships in the world, with a focus on further automation and the terminal’s sustainability. The book-build confirmed that the company’s confidence in its future is shared by the broad community of funders who have supported RWG over the years. Successfully closing the transaction also confirmed that while market volatility poses some headwinds in the near-term, the long-term outlook for sea-borne trade volumes remains robust and RWG will remain a critical strategic asset for its shareholders. Our thanks to the RWG team, particularly CFO Enrico Douwens, for trusting us once again and for their support throughout.”
Caireen McCluskey, senior associate, commented: “It has been a pleasure to support RWG on this financing which highlights how private credit continues to expand the financing options available for major infrastructure projects. The successful delivery of this transaction demonstrates how innovative private credit solutions can support complex funding objectives, even in challenging market conditions.”
Clifford Chance’s team was led by partner Praveen Jagadish with support from senior associates Benjamin Evans and Caireen McCluskey, and associates Jasmin Sahota and Kirsty Jones. Partner Hein Tonnaer with senior associate Martine Trip, associate Brittany Freling, and lawyer Derek Rademaker led on Dutch law matters.
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