TIP Announces Amendment and Extension of its Revolving Credit Facility (RCF) and Raises Additional Money
18.8.2021 17:00:00 EEST | Business Wire | Press release
On 29 July 2021, TIP, a portfolio company of I Squared Capital, has successfully amended and extended its existing Revolving Credit Facility (RCF) and additionally raised funding to strengthen the business.
The existing Revolving Credit Facility (RCF) was increased from €1,150.5 million to €1,196.75 million with no change in pricing or structure and extends the maturity by 2 years. The RCF facility was initially established in 2014 for five years with three banks in the syndicate and a total amount of €300 million. The facility was refinanced in December 2018 maturing in December 2023. The facility has now been increased to €1,196.75 million maturing December 2025.
TIP also raised additional €150 million in the private placement term debt market for a 5-year tenor. The term debt was raised for the first time in November 2019 for €274.5 million for a 7-year tenor
Bob Fast, CEO, explains: “The increase of our RCF and term loans provides flexibility to grow further, both organically and in-organically and broaden our geographical presence. We are excited about adding performance metrics to the facility on Environmental, Social and Governance (ESG) to contribute to sustainable development in coming years. The additional funds from existing financing partners reflects the trust in our business underpinned by our growth in the past five years and provides a strong platform to continue along that path”
Hans van Lierop, CFO, continues: “We originally structured and funded our RCF with three banks in 2014. We diversified the portfolio in November 2019 by adding private placement institutional term debt providers for the first time. This year, we increased both RCF and term loan facilities as well as extending maturity of the RCF facility. Thus, adding to the robustness of our balance sheet. There was strong demand from the market for both offerings, driven by our business growth and performance over the last five years. We are closing 2021 with a strong balance sheet and liquidity position to support our long-term vision”
The funding round was oversubscribed and will support capital investments and future acquisitions to strengthen further the businesses leading market position.
Rabobank and ABN AMRO acted as joint coordinators and physical book runners to TIP and I Squared Capital on the transaction.
About TIP
Headquartered in Amsterdam, the Netherlands, TIP is one of Europe and Canada’s leading equipment service providers, specialising in trailer leasing, rental, maintenance and repair, as well as other value-added services and provides these to transportation and logistics customers across Europe and Canada. TIP services customers from 102+ locations spread over 17 countries in Europe and Canada.
More info: https://www.tipeurope.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210818005467/en/
Contact information
Questions or additional information, please contact:
Kapil Sharma
Treasury and Investor Relations Director
T +31 20 504 1677
M +31 621 105358
E kapil.sharma@tipeurope.com
Rogier Laan
VP Sales and Marketing
M +31 622 948474
E Rogier.laan@tipeurope.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Bacardi Climbs to #32 Among the World’s Top Companies for Women8.10.2026 15:11:00 EEST | Press release
Bacardi Limited has climbed to #32 on the Forbes list of the World’s Top Companies for Women 2026, rising from #60 the previous year and earning a place on the prestigious global ranking for the fifth consecutive year. The family-owned company is the highest-ranked spirits company on this year’s list and ranks #2 in the “Food, Soft Beverages, Alcohol & Tobacco” category. The recognition reflects a continued commitment to creating opportunities, championing career development and cultivating a workplace where people feel valued, empowered and able to do their best work. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261008127263/en/ Bacardi celebrates being the highest-ranked spirits company in the Forbes World's Top Companies for Women 2026. “The most meaningful measure of our progress is seeing talented women choose to join Bacardi, build their careers here and advance into leadership roles,” says Nicole Zukowski, Chief Sup
SLB Awarded Digital Drilling Contract by TotalEnergies8.10.2026 15:04:00 EEST | Press release
Global energy technology company SLB (NYSE: SLB) today announced a 15-year agreement with TotalEnergies to use the DrillPlan™ coherent well planning and engineering solutions. The agreement will support TotalEnergies’ transition to a digital planning environment, connecting subsurface insights with well planning and engineering. Enabled by SLB’s DrillPlan solutions and the expertise of both companies, the agreement marks a significant step in the companies’ digital collaboration and reflects a broader shift across the industry as operators move toward scalable, interoperable digital platforms to improve engineering and well construction execution. The DrillPlan solutions will enable TotalEnergies to streamline well design and engineering activities by integrating offset well data, trajectory designs, casing and completion inputs, and planning assumptions used throughout the well construction process, enabling cross-functional teams to work from a common foundation of data, plans and as
Gaétane Baudry Appointed Senior Vice President/Global General Manager, Bobbi Brown8.10.2026 15:00:00 EEST | Press release
The Estée Lauder Companies Inc. (NYSE: EL) today announced the appointment of Gaétane Baudry as Senior Vice President/Global General Manager, Bobbi Brown, effective October 8, 2026. Based in New York, she will report to Lisa Sequino, Global President, Makeup Brands. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261008525584/en/ Gaétane Baudry In this role, Gaétane will lead Bobbi Brown’s global strategy and continued evolution, strengthening the brand’s distinctive equity, advancing innovation and creativity, and deepening consumer engagement around the world. “Gaétane is an inspiring and highly collaborative leader who brings experience, energy and a strong focus on execution,” said Lisa Sequino, Global President, Makeup Brands. “Her global brand-building record, strong commercial leadership and passion for creating meaningful consumer experiences will be invaluable as Bobbi Brown builds on its unique brand equity focused
Adtran launches Mosaic One Agents to help teams easily scale operations8.10.2026 15:00:00 EEST | Press release
Adtran today launched Mosaic One Agents, a suite of AI agents designed to help organizations scale expertise across network management, customer care and business operations. Built on Mosaic One Fabric, it gives role-based agent teams access to data from Adtran and third-party networks, enabling them to investigate issues, coordinate work across teams and drive issues through to resolution. By handling time-consuming investigation, coordination and process tasks, Mosaic One Agents helps people resolve issues faster, extend their expertise across more workflows and retain control of critical network and business actions. “When something goes wrong, experienced people become a scarce resource. Every organization needs enough of them to understand what’s happening, coordinate the response, keep customers informed and get every issue resolved. During a major outage, there are never enough experts to do it all. Mosaic One Agents changes that,” said Philip Bednarz, GM of software platform at
The LYCRA Company to Spotlight Renewable LYCRA ® Fiber and Textile-to-Textile Circularity at Textile Exchange Conference 20268.10.2026 15:00:00 EEST | Press release
The LYCRA Company, a global leader in fiber and technology solutions for the apparel and personal care industries, will showcase Renewable LYCRA® fiber and its work to advance textile-to-textile recycling at Textile Exchange Conference 2026. The conference takes place October 12–16, at the Vancouver Convention Centre in Vancouver, Canada. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261008178765/en/ At the Textile Exchange Conference 2026, The LYCRA Company will showcase Renewable LYCRA® fiber and its progress in advancing textile-to-textile recycling. This year's theme, "The Implementation Era," focuses on scaling what works across businesses, supply systems, and landscapes. At the conference, The LYCRA Company will highlight its work with partners across the value chain, helping to shape the future for textiles through renewable fiber solutions, circular innovation, and strategic industry partnerships. “Bringing more rec
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom