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
SES Successfully Prices €650 million of SPACE Hybrid Securities17.3.2026 23:00:00 CET | Press release
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN, OR AT ANY ADDRESS IN, THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE UNITED STATES) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT)) OR IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT (SEE “OFFER AND DISTRIBUTION RESTRICTIONS” BELOW). SES Financing S.à r.l., a wholly owned subsidiary of SES, announced the successful launch and pricing of the PNC5.25 Subordinated Perpetual with Automatic Conversion Events (“SPACE”) hybrid transaction, guaranteed on a subordinated basis by SES and SES Americom. SES Financing S.à r.l. is rated Ba1 (stable) and BBB- (stable) by
Rimini Street Announces Participation in the ROTH Capital Partners 38th Annual Investor Conference17.3.2026 22:37:00 CET | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced the following upcoming ROTH Capital Partners Investor Conference, March 23 and 24, 2026, in Laguna Niguel, California: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317799301/en/ Rimini Street Announces Participation in the ROTH Capital Partners 38th Annual Investor ConferenceSeth Ravin, CEO, and Dean Pohl, vice president, treasurer and investor relations, will participate in one-on-one and small group meetings (Seth Ravin, March 23 only) Seth Ravin will participate in a panel discussion led by ROTH Capital Partners Managing Director, Senior Research Analyst Rich Baldry, titled “Software: Risks, Opportunities & Realities of the AI Emergence” on March 23, 2:00 p.m. – 2:55 p
The World Goes Green for St Patrick’s Day 202617.3.2026 17:50:00 CET | Press release
Ireland Leads a Global Celebration of Culture and Community This March, St Patrick’s Day invites people all over the world to become Irish for a day, as cities and communities across the globe unite in a shared celebration of heritage, culture and connection. From parades and parties to the famous global greenings, the festival’s spirit reaches far beyond Ireland’s shores. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260306890851/en/ St Patrick's Festival Kilkenny City 2022 The World Goes Green Ireland’s national holiday, St Patrick’s Day unites a global community in a vivid moment of celebration. Each year, hundreds of iconic landmarks are illuminated in green, from the Empire State Building in New York and the Leaning Tower of Pisa in Italy to Niagara Falls in Canada and the Wallace Monument in Scotland. These striking displays reflect the far-reaching connections of Irish communities overseas and the worldwide affection
USD 1.63 Billion In 72 Hours: Manchester City Yas Residences by Ohana Development Sets New Sales Record In Abu Dhabi17.3.2026 16:44:00 CET | Press release
• 35% of investors are Emiratis, while 65% are expatriates and international investors • Milestone reflects strong demand for the project and continued confidence in the UAE’s real estate sector Ohana Development, a leading UAE real estate developer renowned for its luxury projects, has recorded USD 1.63 billion in sales within 72 hours for Manchester City Yas Residences by Ohana, a gated waterfront community located along Yas Canal in Abu Dhabi, setting a new sales record in the emirate’s real estate market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317595867/en/ Manchester City Yas Residences by Ohana (Photo: AETOSWire) Investors queued at the sales launch, reflecting the strong demand for the project. Of the investors, 35% are Emiratis, while 65% are expatriates and international buyers. In response to this significant interest, Ohana Development is expected to release additional inventory from the project soon. I
Speech Processing Solutions Launches Philips SpeechLive Health, an AI Assistant Built for Modern Clinical Documentation17.3.2026 15:00:00 CET | Press release
Philips SpeechLive Health AI Assistant uses healthcare-trained AI to convert clinical conversations into structured notes, helping clinicians reduce administrative burden Speech Processing Solutions, the global leader in professional dictation and speech solutions sold under the Philips brand, today announced the upcoming April 2026 launch of Philips SpeechLive Health AI Assistant, an AI-powered clinical documentation assistant designed for healthcare professionals across multiple care settings. This solution reduces administrative burden, streamlines documentation, and improves provider and patient experiences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317743584/en/ Philips SpeechLive Health AI Assistant turns clinical conversations into structured documentation, helping reduce administrative workload and create more time for patient care. Purpose-built for clinical documentation workflows Clinical workload remains
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