Veritas Petroleum Group’s $95 Million Refinancing


Willkie advised Veritas on its refinancing, which includes a $95 million loan from EQT Credit

Willkie advised Veritas Petroleum Group, a portfolio company of IK Investments Partners, on its recent refinancing. The Veritas Petroleum Group was bought by IK Investment Partners Limited in 2013 and the latest refinancing included the re-financing in full of the existing bonds and part of the term debt.

Willkie advised on the new term loan of $95 million provided by EQT Credit together with a super senior revolving facility. The group also has access to a committed acquisition line.

The Veritas Petroleum Group operates across multiple jurisdictions, including the Netherlands, Norway, US and UK. It is one of the leading global marine fuel testing and bunker quantity survey companies.

The Willkie team consisted of partner Mark Fine (Picture) and associates Aymen Mahmoud and Nicholas Jupp.

Involved fees earner: Mark Fine – Willkie Farr & Gallagher; Aymen Mahmoud – Willkie Farr & Gallagher;

Law Firms: Willkie Farr & Gallagher;

Clients: Veritas Petroleum Group;