The Port of Tyne has secured a £100 million refinancing package with the UK Infrastructure Bank, Pricoa Private Capital and Lloyds Bank. The Port’s new facilities include a £50 million capital fund provided by the Government-owned UK Infrastructure Bank, £45 million of long-dated loan notes from Pricoa Private Capital, with Lloyds Bank continuing to support as an agent and providing a £5 million revolving credit facility. This long-term credit facility will provide the Port of Tyne with a capital structure to continue to deliver its Tyne 2050 strategy while providing support to develop infrastructure projects to capitalise on new market opportunities. The Port of Tyne, which already contributes £700 million to the North East and UK economy, is home to the O&M base to service Dogger Bank offshore wind farm, is the second largest car exporting port in the country and supports a growing clean energy cluster. The Port also handles a diverse range of cargoes including containers, manufactured and retail goods, alongside renewables and passenger activities.
