The private debt infrastructure unit of Queensland Investment Corporation (QIC) has committed 50 million euros (US$54.16 million) to a junior loan issued by HES International BV to finance the Dutch bulk terminal operator’s diversification.
The loan is part of a one billion euro debt capital, including 220 million euro six-year sustainability-linked junior loan, raised by HES to support its growth and diversification strategy. Part of the fundraising will be used to repay HES’ existing financing that will mature in March 2025.
According to Nicholas Stockdale, partner and head of Europe at QIC Private Debt Infrastructure, the transaction is the company’s seventh private markets loan investment.
“This deal further demonstrates our team’s ability to originate and execute attractive high yield infrastructure debt investments, which also embed environmental, social and governance provisions,” Stockdale says in a statement on July 10.
Rotterdam-headquartered HES operates 15 terminals across five jurisdictions in Europe.
Brisbane-based QIC is the investment arm of Queensland state government. It had A$102.2 billion ($68.99 billion) of assets under management as of June 2023.
