TIP-GROUP
12.12.2022 15:01:50 CET | Business Wire | Press release
On 8 December 2022, TIP Group, a portfolio company of I Squared Capital, has successfully raised additional funding to further grow and strengthen the business and implement its strategic planning.
The existing borrowing base financing arrangements (consisting of revolving and term debt) (BBF) were increased from €1,197 million to €1,391 million. The pricing, tenor and structure remained unchanged. The BBF matures in December 2025 but benefits from a 2 year extension option.
TIP also raised an additional €75 million in liquidity by creating a new "green" revolving borrowing base facility. This sub-facility is specifically sustainability linked, a reflection of TIP Group's intentions to meeting its sustainability ambitions and providing its customers with high quality low emission assets. The proceeds of this "green" sub-facility may only be used to finance "green assets" in line with the Green Loan Principles published by the Loan Market Association.
Bob Fast, President and CEO, explains: “The increase of our existing BBF and a new sustainability linked "green" sub-facility provides flexibility to grow further, both organically and non-organically and broaden our geographical presence. The additional funds from existing and new financing partners reflect the trust in our business underpinned by our growth in the past seven years and provides a strong platform to continue along that path.”
Hans van Lierop, CFO, continues: “We originally structured and funded our RCF for EUR 300 million with three banks in 2014, and increased those financing arrangements to EUR 1,197m of borrowing based linked revolving and term debt by 2021 with 11 banks and non-banks in the syndicate. Further increase in the liquidity by EUR 269 million, including commitments from 2 new banks, this year adds to the robustness of our balance sheet. There was a strong interest in the loan market driven by our business growth and performance over the last seven years which had proven resilient in challenging market environments. We are closing 2022 with a strong balance sheet and liquidity position to support our long-term vision.”
The additional funding will support capital investments and future acquisitions to strengthen further the businesses leading market position and contributes to our sustainability ambitions and goals.
Rabobank and ABN AMRO Bank acted as joint coordinators, active book runners and joint sustainability coordinators to the TIP Group on the transaction. DLA Piper, Amsterdam supported the TIP Group as legal advisors, and Freshfields Bruckhaus Deringer acted as legal advisors to the financiers.
About TIP Group
Headquartered in Amsterdam, the Netherlands, TIP is a leading provider of equipment and services within Europe and Canada. Located in 18 countries, and offering over 138 service locations, TIP specializes in providing the transportation and logistics sector with leasing, rental, maintenance, and repairs through a wide selection of trailer equipment. For more information, please visit: https://www.tip-group.com
About I Squared Capital
I Squared Capital is an independent global infrastructure investment manager with over $36 billion in assets under management focusing on energy, utilities, digital infrastructure, environmental infrastructure, transport and social infrastructure in North America, Europe, and select high growth economies in Asia and Latin America. Headquartered in Miami, the firm also has offices in London, New Delhi, Singapore, Hong Kong, Taipei, and Sydney.
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/20221212005398/en/
About Business Wire
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
Reply Presents the Jury of the Second Edition of the AI Music Contest: This Year Again, Finalists Will Perform on the NOVA Stage of Kappa FuturFestival in Turin8.5.2026 13:24:00 CEST | Press release
Agoria, Max Cooper, Fleur Shore, Tini Gessler, Ali Demirel, Albi Scotti, Oliver Bohl and Sarah Grimaldi join the jury of the second edition of the competition dedicated to the dialogue between artificial intelligence and live performance. Reply, [EXM, STAR: REY], an international group specialised in the development of new AI-enabled business models and always distinguished by a strong drive for innovation, renews its commitment to creative experimentation with the second edition of the ReplyAI Music Contest. The initiative, organised in collaboration with Kappa FuturFestival—one of Europe’s leading festivals dedicated to electronic music—takes the form of an international competition aimed at creatives and innovators who use AI technologies to explore new ways of integrating sound and image, enhancing the role of artificial intelligence in live performances. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260508361016/en/ Th
CYNREN Launches Next Generation Advisory Firm Serving Family Offices, Funds and Institutions8.5.2026 13:00:00 CEST | Press release
Founded by former partners of KPMG and Citibank with decades of experience guiding businesses, funds and families CYNREN today announced its launch as an independent international advisory firm, built for a world where capital, technology and geopolitics now heavily intersect. Unlike traditional consulting firms, CYNREN combines institutional capability and experience with the agility of a true challenger model to operate at the highest level of advisory and execution. CYNREN was co-founded by Anthony Cowell, Sunil Nair and Scott Lennon, specializing in family office, fiduciary and directorship roles, board-level strategy, impact and philanthropic structuring and complex risk consulting. The firm is partner-led around the moments that matter most, with AI embedded from inception to enable sharper insights and more informed outcomes while remaining grounded in human judgement. Operating globally through a network of senior advisors, investors and partners, CYNREN serves clients across t
Telekom Srbija Secures U.S. EXIM Financing to Accelerate 5G Rollout8.5.2026 11:48:00 CEST | Press release
Approval from the Export-Import Bank of the United States will support Serbia’s next-generation telecoms expansion and strengthen U.S.–Serbia technology and economic ties Telekom Srbija Group today announced that the Export-Import Bank of the United States (EXIM) has granted final approval for financing to support the continued rollout of Telekom Srbija’s 5G network. The EXIM-supported financing will help fund the deployment of 5G telecommunications network equipment and related services in Serbia, supplied by U.S. technology companies. It marks a major milestone in Telekom Srbija’s long-term investment programme and strengthens the company’s relationship with leading U.S. financial and technology institutions. Telekom Srbija launched commercial 5G services in Serbia in December 2025 and is continuing to expand coverage nationwide. The company is targeting 5G coverage across all Serbian cities by the end of 2026, with full national coverage by the end of 2027. The financing follows EXI
Philip Morris International’s Moira Gilchrist Positions Human Judgment as a Critical Leadership Advantage Amid Rapid AI Adoption at Wall Street Journal Forum8.5.2026 10:00:00 CEST | Press release
PMI’s Chief Global Communications Officer says companies that safeguard human judgment will gain a competitive edge as AI automates routine knowledge work Philip Morris International’s (PMI) (NYSE:PM) Chief Global Communications Officer, Moira Gilchrist, joined global thought leaders at The Wall Street Journal’s Future of Everything conference in New York to examine why human cognition—judgment, context, creativity, and ethical reasoning—is becoming the most valuable asset in an age of artificial intelligence. “The AI boom is putting a premium on distinctly human capabilities,” said Gilchrist, who took part in the session “Cognition: The New Currency – Why Human Judgment Matters More Than Ever.” Speaking to attendees, she emphasized that, “As knowledge is getting democratized, human judgment, intuition, and creativity become the true differentiators that leaders need to nurture across all levels of their organizations.” Philip Morris International is today a different company, built wi
Fortegra Appoints Iwan Röpcke as Chief Executive Officer, Belgium8.5.2026 09:30:00 CEST | Press release
The Fortegra Group, Inc., a global specialty insurer, today announced the appointment of Iwan Röpcke as Chief Executive Officer, Belgium. Mr. Röpcke brings more than 25 years of insurance industry experience to the role, spanning broking, commercial leadership, and executive management across the Benelux and broader European markets. He joins Fortegra from Lloyd’s Insurance Company S.A., where he served as Country Manager for Belgium and the Netherlands, building out the operation from its early stages and overseeing both business strategy and development. Prior to Lloyd's, Mr. Röpcke held senior leadership positions at Willis Towers Watson (via Gras Savoye), where he served as Head of Sales and Head of the Competence Center. His career also includes roles at Inter Partner Assistance (AXA Assistance) as Commercial Director Benelux, Winterthur Europe Assurances, AIG Europe, Aon Belgium, and Marsh. Mr. Röpcke’s industry expertise spans a range of specialty risk areas, with deep relations
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