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
The LYCRA Company Makes NSC Safety Congress & Expo Debut10.9.2026 19:45:00 CEST | Press release
Highlights Innovative Fibers That Enhance Worker Comfort, Performance, and Protection The LYCRA Company, a global leader in developing fiber and technology solutions for the apparel and personal care industries, today announced its inaugural exhibition at the NSC Safety Congress & Expo, being held September 14-16 in Indianapolis. The company also marks the North American debut of its “FIBERS THATWORK” portfolio of innovative solutions for workwear, uniforms, and protective apparel. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260910402207/en/ The LYCRA Company will debut its FIBERS THAT WORK portfolio at the NSC Safety Congress & Expo in Indianapolis, highlighting fiber technologies engineered to enhance comfort, durability, visibility, and protection in workwear and protective apparel. "Comfort is fundamental to workwear performance," said Tara Maurer-Mackay, product category director, branded specialty products at The LY
Turning Up the Heat: ProAmpac Helps Power Circle K’s Flamin’ Hot® Boneless Chicken Wings Launch10.9.2026 18:12:00 CEST | Press release
ProAmpac, a global leader in flexible packaging and material science, is proud to announce its role in supporting Circle K's launch of Flamin' Hot® Boneless Chicken Wings, created in partnership with PepsiCo/Frito-Lay. Designed to address key challenges in hot food packaging, ProAmpac's custom fiber-based tray helps maintain food quality, improve shelf appeal, and enhance the consumer experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260910495607/en/ Flamin' Hot Chicken Bites Circle K sought a better way to merchandise its Flamin’ Hot® Boneless Chicken Wings while addressing several performance challenges, including heat retention, moisture loss, and grease resistance, while extending hot hold time. ProAmpac responded with a custom tray designed specifically for the recipe and portion size, demonstrating its flexibility in meeting unique customer design and performance requirements. Working from PepsiCo’s initial br
Record Currency Management wins new FX Alpha and Frontier Market mandates10.9.2026 17:30:00 CEST | Press release
Record Currency Management Ltd (RCM), a subsidiary of London-listed Record plc (Record Financial Group), is pleased to announce that it has been awarded two new mandates of strategic importance – an FX Alpha mandate and an FX Frontier mandate. RCM is the UK currency management arm of Record Financial Group, the London-listed specialist investment group managing over USD 122 billion of assets on behalf of institutional clients worldwide. Record’s client base comprises pension funds, foundations, sovereign institutions and other asset managers, with whom the Group has built long-standing relationships through its focus on bespoke investment and risk management solutions. Headquartered in London, Record has offices in Hamburg, Zurich, Zug, New York, and Hong Kong. For institutional investors, currency can represent both a source of risk and a potential source of differentiated returns. Live since 2012, Record’s FX Alpha strategy aims to deliver attractive risk-adjusted returns without cap
Azizi Developments Introduces USD 8.1 Billion Master-Planned Community Azizi Florence in Sharjah10.9.2026 16:08:00 CEST | Press release
Azizi Developments, a leading private developer in the UAE, is unveiling Azizi Florence, a USD 8.1 billion master-planned community marking its first project in Sharjah. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260910091949/en/ Azizi Florence (Photo: AETOSWire) The freehold development will feature 1,130 villas, more than 6,000 townhouses and 3,500 apartments, with three-bedroom townhouses starting from USD 515,000 at USD 231 per square foot of sellable area. Designed as an integrated destination, Azizi Florence will bring together residential, retail, hospitality, education, leisure and wellness offerings, centred around a 1.7-million-square-foot Central Park. Six residential clusters will each feature a park, clubhouse, community centre and landscaped gardens. Mr. Mirwais Azizi, Founder and Chairman of Azizi Group, said: “Returning to Sharjah after more than three decades is deeply meaningful to me, as this emirate w
Agentic Crypto Payments Have Surged by 500%1 in the Last Three Months, Crypto Compliance Must Become Agentic Too10.9.2026 15:53:00 CEST | Press release
Elliptic is publishing eight principles for governing agentic on-chain risk: the Elliptic Standard Elliptic,the global leader in on-chain risk, today published the Elliptic Standard: eight principles for governing agentic on-chain risk. Elliptic has been at the intersection of financial crime and on-chain finance since 2013, long enough to recognize the shift to agentic transactions as a defining inflection point in financial crime risk, and to be the first to define what governing it demands. On-chain finance is now running at agentic speed. Machines are originating, authorizing and settling transactions at a volume no human team can review. Illicit actors are using AI to evade detection at a speed and volume that manual processes cannot track. Models built around human review were never designed for this world. They are already overwhelmed. Three forces are driving this shift. First, autonomous agents are increasingly the counterparty on both sides of a transaction, not just people i
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