The Port of Tyne has obtained a £100 million refinancing package, a national first for a British major trust port. The deal supports the port’s focus on green energy and smart logistics, demonstrating investor confidence in its business strategy. This long-term credit facility will help the Port of Tyne achieve its ambitious Tyne 2050 strategy and capitalize on emerging market opportunities.
The Port of Tyne, a prominent UK trust port, secured a groundbreaking £100 million refinancing package with the UK Infrastructure Bank, Pricoa Private Capital, and Lloyds Bank. This 10-year arrangement sets a national precedent for a British major trust port and reinforces its commitment to green energy and smart logistics. The deal showcases investor trust in the port’s business strategy and its position in key sectors such as offshore renewables and the automotive transition.
Under this financing package, the Port of Tyne gains access to significant facilities, including £50 million from the UK Infrastructure Bank, £45 million in loan notes from Pricoa Private Capital, and a £5 million revolving credit facility from Lloyds Bank. The facility was completed with essential support from Deloitte LLP’s Infrastructure Team, Ashurst LLP, and Pinsent Mason LLP.
With this long-term credit facility, the Port of Tyne can pursue its Tyne 2050 strategy and develop major infrastructure projects to leverage emerging market opportunities. This move ensures sustainable support for green energy markets and long-term national energy security in the North East region and the UK.
The Port of Tyne plays a crucial role in various sectors, contributing £700 million to the North East and UK economy. It hosts the operational base for the world’s largest windfarm, Dogger Bank, and is the second-largest car exporting port in the country. The port supports a growing clean energy cluster and handles diverse cargoes, including containers, goods, renewables, and passenger activities.
