13:48 uur 13-12-2021

TIP kondigt succesvolle nieuwe Asset Backed Securitization (ABS)-faciliteit aan

AMSTERDAM–(BUSINESS WIRE)– Op 10 december 2021 heeft TIP, een portefeuillebedrijf van I Squared Capital, met succes een nieuwe pan-Europese Asset Backed Securitization (ABS)-faciliteit opgezet voor haar operationele leaseportefeuille. De Senior Facility bedraagt € 200 miljoen met een looptijd van 2 jaar en wordt verstrekt door Rabobank en Commerzbank. Het heeft het keurmerk Simple, Transparent en Standardized (STS) behaald onder het EU-regelgevingskader voor securitisatie.

De bestaande ABS Senior Facility voor € 100 miljoen werd in 2014 opgericht onder een Nederlandse wet sesuritisatie structuur voor operationele leases. Deze voorziening wordt vervangen door het nieuwe ABS.

TIP announces successful new Asset Backed Securitization (ABS) facility

AMSTERDAM–(BUSINESS WIRE)– On 10 December 2021, TIP, a portfolio company of I Squared Capital, has successfully established a new pan-European Asset Backed Securitization (ABS) facility for its operational lease portfolio. The Senior Facility amounts to €200 million with a 2-year tenor and is provided by Rabobank and Commerzbank. It has achieved Simple, Transparent and Standardized (STS) quality mark under the EU regulation framework for Securitization.

The existing ABS Senior Facility for €100 million was established in 2014 under a Dutch law Securitisation structure for operating leases. This facility will be replaced by the new ABS.

Bob Fast, CEO, explains: “Combined with our recent successful RCF re-financing in July 2021, the new ABS programme provides us with additional support for our long-term growth plans, continuing to support our customers.”

Hans van Lierop, CFO, continues: “We are delighted to have a new ABS programme comprising of a senior loan facility of €200 million with our 2 key partner banks – Rabobank and Commerzbank, adding robustness to our balance sheet. We are closing 2021 with a strong balance sheet and liquidity position to support our long-term vision.”

Rabobank and Commerzbank acted as joint arrangers and senior lenders 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


Questions or additional information, please contact:
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E kapil.sharma@tipeurope.com

Rogier Laan

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E Rogier.laan@tipeurope.com

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