TIP Announces Amendment and Extension of its Revolving Credit Facility (RCF) and Raises Additional Money
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
BeOne Medicines Granted U.S. FDA Fast Track Designation for BGB-B2033 as Treatment for Hepatocellular Carcinoma18.12.2025 13:00:00 EET | Press release
BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced that the U.S. Food and Drug Administration (FDA) has granted the Company Fast Track Designation for BGB-B2033, its GPC3x4-1BB bispecific antibody for the treatment of adult patients with hepatocellular carcinoma (HCC) with disease progression on or after prior systemic treatment. “The FDA awards Fast Track Designation to therapies that show potential to address an unmet medical need in serious or life-threatening conditions. The FDA’s decision reflects the encouraging profile of BGB-B2033 in advanced hepatocellular carcinoma, where patients continue to face limited treatment options,” said Julie Lepin, Senior Vice President and Chief Regulatory Affairs Officer at BeOne. BeOne is currently conducting a global, multi-center Phase 1 clinical trial (NCT06427941) to explore the safety and anti-tumor activity of BGB-B2033, both alone and in combination with PD-1 inhibitor TEVIMBRA® (tisle
NHOA Energy Achieves Great Place To Work Certification in Italy, the United States and Australia18.12.2025 11:53:00 EET | Press release
NHOA Energy, global provider of utility-scale energy storage systems, announces that it has been certified Great Place To Work® in Italy, the United States, and Australia. The certification is based entirely on direct feedback from NHOA Energy employees, gathered through an independent and structured listening process. Great Place To Work® Certification™ assesses the quality of the employee experience across key dimensions such as credibility, respect, fairness, pride, and camaraderie. The results achieved by NHOA Energy reflect a corporate culture built on trust, inclusion, and the consistent commitment to valuing people within a dynamic and international environment. Employees highlighted particularly high levels of appreciation for the ethical and transparent behavior of leaders, the welcoming and inclusive approach toward new hires, and fair treatment across diversity, equity, and inclusion dimensions. A strong majority also expressed pride in working at NHOA Energy and reported a
Regnology Signs an Agreement to Acquire Moody’s Regulatory Reporting & ALM Solutions18.12.2025 11:00:00 EET | Press release
Regnology, a leading provider in regulatory, risk, tax, and finance reporting, as well as supervisory technology, today announced it has signed an exclusive agreement for the acquisition of Moody’s Regulatory Reporting & ALM Solutions business, inclusive of solutions for Basel III compliance, IFRS9 impairment accounting, large bank asset-liability management (ALM), Solvency II insurance reporting, and prudential and statistical regulatory reporting across more than 50 jurisdictions. By integrating Moody’s regulatory capital and liquidity capabilities with Regnology’s regulatory, risk, and finance offerings, the firm is creating a unified, scalable platform designed to meet the full spectrum of financial regulatory compliance and risk requirements. This combined strength positions Regnology as the partner of choice for financial institutions seeking future-ready solutions. At the core of this strategy is Regnology Risk Hub (RRiskHub), an integrated solution designed to deliver a single
Reply Recognized as a Microsoft Azure Expert Managed Services Provider for the Sixth Consecutive Year18.12.2025 11:00:00 EET | Press release
Reply [EXM, STAR: REY] announced today it has been recognized once again as a Microsoft Azure Expert Managed Services Provider (MSP). The renewal reaffirms Reply’s proven expertise and consistent track record in delivering high-quality cloud solutions and services on the Microsoft Azure platform, powered by the deep technical expertise of its specialized companies – Cluster Reply, Solidsoft Reply and Valorem Reply. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251218596617/en/ This recognition reflects the ongoing collaboration between Reply - through its companies Cluster Reply, Solidsoft Reply, and Valorem Reply - and Microsoft, supporting shared efforts to deliver value-driven services to enterprise customers. The Azure Expert MSP program is designed by Microsoft to identify and validate partners with proven capabilities in delivering end-to-end Azure services at scale. To qualify, partners must meet a strict set of requ
Takeda’s Zasocitinib Landmark Phase 3 Plaque Psoriasis Data Show Promise to Deliver Clear Skin in a Once-Daily Pill, Catalyzing a New Era of Treatment18.12.2025 10:00:00 EET | Press release
Takeda(TSE:4502/NYSE:TAK)today announced positive topline results for the two pivotal Phase 3randomized, multicenter, double-blind, placebo- and active comparator-controlled studies of zasocitinib (TAK-279), a next-generation, highly selective oral tyrosine kinase 2 (TYK2) inhibitor, in adults with moderate-to-severe plaque psoriasis (PsO). The studies demonstrated superiority of zasocitinib compared to placebo for the co-primary endpoints, static Physician Global Assessment (sPGA) 0/1 and Psoriasis Area and Severity Index (PASI) 75, at week 16, with a significantly greater PASI 75 response rate seen as early as week 4 and continuing to increase through week 24. The studies also met all 44 ranked secondary endpoints, including PASI 90, PASI 100 and sPGA 0 against placebo and apremilast, showing the potential of a convenient once-daily pill to deliver complete skin clearance for patients with PsO. “People living with psoriasis continue to seek safe, effective and fast-acting oral therap
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