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
Vertex Presents New Data on ALYFTREK® at European Cystic Fibrosis Conference5.6.2026 18:00:00 CEST | Press release
- ALYFTREK Phase 3 data on children with cystic fibrosis ages 2 to 5 with vanzacaftor/tezacaftor/deutivacaftor-responsive genotypes including F/F and F/MF shows 65% reached sweat chloride levels of <30 mmol/L; Vertex on track to initiate global regulatory submissions in first half of 2026 - - Long-term 96-week interim analyses from two open-label extension studies demonstrate positive safety and efficacy profile of ALYFTREK in people with cystic fibrosis ages 6 and older -- Phase 3 data on TRIKAFTA® in children 1 to <2 years also presented; Vertex has initiated global regulatory submissions - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced data demonstrating the potentially transformative impact of treating cystic fibrosis (CF) with ALYFTREK ® (vanzacaftor/tezacaftor/deutivacaftor) in children ages 2 to 5, as well as data from 96-week interim analyses of two open-label extension studies of ALYFTREK in children 6 to 11 years and people 12 years and older demonstrating
Owkin to Build AI Agents as Part of a Multi-Year K Pro Collaboration with Sanofi5.6.2026 13:00:00 CEST | Press release
Owkin, the agentic AI company pioneering Biological Artificial Superintelligence to transform drug discovery and development, today announced a multi-year collaboration with Sanofi to co-develop next-generation biopharma agents, to be backed by a five-year license for K Pro, Owkin’s AI Scientist. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260605704506/en/ K Pro, Owkin's AI scientist for biology, powered by multimodal patient data for smarter biopharma decision making. Owkin and Sanofi have collaborated since 2021 through a €90 million strategic partnership focused on target identification in oncology and patient subgrouping. The collaboration was later expanded to include drug positioning for Sanofi’s immunology pipeline. This new collaboration represents the next evolution in the partnership. During the five-year collaboration, Owkin will lead the end-to-end development of novel AI-driven biopharma agents purpose-built
DFNS Rebrands as the Core Banking Platform for Digital Assets5.6.2026 12:41:00 CEST | Press release
DFNS today announced a rebrand, marking its evolution from a wallet infrastructure to the first core banking platform for digital assets. The company is introducing a new logo, website, and market position as fintechs and institutions move their products and operations onchain. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260603859127/en/ Banks, fintechs, asset managers, trading firms, payment providers, market infrastructures, and clearing houses have stopped asking how to "add crypto." They're asking how to run financial products, controls, workflows, and client services on blockchain rails, with the reliability expected of core infrastructure. Some are going further still, exploring whether the blockchain can serve as the ledger itself, where an account is an onchain object rather than a row in a database. Where IBANs, virtual accounts, and blockchain wallets converge into one governed financial account. “DFNS was built
Compass Pathways Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)5.6.2026 12:30:00 CEST | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that Compass granted equity awards under the Compass Pathways plc 2026 Inducement Plan to seventeen newly hired non-executive employees. The equity awards were granted on June 1, 2026 and consisted of options to purchase an aggregate of 157,000 shares and restricted share units or, in the case of employees in the United Kingdom nominal cost options, covering an aggregate of 74,700 shares. The options have an exercise price per share equal to $14.19, the closing price of the Company’s American Depositary Shares on the Nasdaq Global Select Market on the grant date, and will vest over a four-year period with 25% vesting on the first anniversary of the date of the grant and the remaining 75% vesting in equal monthly installments over the three-year period thereafter, subject to each employee’s continued employment. The restrict
Renewable Electricity, Soft Wheat Flour From Regenerative Agriculture, Initiatives to Support Local Communities: Barilla Shares These and Other Projects in “Stories of Sustainability.”5.6.2026 10:00:00 CEST | Press release
Barilla continues to advance its commitment to tastier products with less sugar and salt;An investment of 30 million euros in 2025 to quadruple photovoltaic capacity across plants, as part of a €168 million five-year plan focused on energy efficiency, renewable energy and sustainable water management.Barilla continues to expand regenerative agriculture practices across its global value chain, with over 816,000 tons of raw materials sourced through the Barilla Sustainable Farming program.4,000 tons of products donated worldwide and €2 million allocated to social causes in 2025, supporting communities across Barilla’s global footprint through food donations and social initiatives. A slimmer Tagliatelle pack that saves 150 tons of cardboard and cuts transport-related CO₂ emissions by 20%1; ready-made sauce jars made with around 65% recycled glass; the progressive scaling of regenerative agriculture practices across Barilla’s value chain and initiatives supporting inclusion and equal oppor
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