TIP announces the success of a new asset-backed securitization facility (ABS)

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AMSTERDAM – On December 10, 2021, TIP, a holding company of I Squared Capital, successfully established a new pan-European asset-backed securitization (ABS) facility for its operating leases portfolio. The Senior Facility amounts to 200 million euros with a duration of 2 years and is provided by Rabobank and Commerzbank. It has obtained the STS (Simple, Transparent and Standardized) quality label in the EU regulatory framework for securitization.

The ABS Senior Facility for an amount of 100 million euros was created in 2014 as part of a securitization structure under Dutch law for operating leases. This installation will be replaced by the new ABS.

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

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

Rabobank and Commerzbank acted as co-arrangers and principal lenders to TIP and I Squared Capital in connection with the transaction.

About tip

Based in Amsterdam, the Netherlands, TIP is a leading equipment service provider in Europe and Canada, specializing in the rental, rental, maintenance and repair of trailers, as well as other value-added services and provides them to transport and logistics customers across Europe and Canada. . TIP serves customers at over 102 locations in 17 countries in Europe and Canada.

More information: https://www.tipeurope.com

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211213005459/en/

Contacts

Questions or additional information, please contact:
Kapil sharma
Treasury and Investor Relations Director
T +31 20 504 1677
+31 621 105358
E kapil.sharma@tipeurope.com

Rogier laan
VP Sales and Marketing
+31 622 948474
E Rogier.laan@tipeurope.com

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