TIP Trailer Services Successfully Refinances ABS Program
MAR 14, 2019 - 6:55 am
TIP Trailer Services, a portfolio company of I Squared Capital, successfully refinanced its asset-backed securitisation (ABS) program.
The Pan-European program was originally established in 2014 and refinanced once in 2017. The new program will now run until March 2020.
Bob Fast, CEO of TIP Trailer, commented, “Combined with our successful 5-year RCF re-financing, the ABS program provides us with additional support for our long-term growth plans, continuing to support our customers.”
“We are delighted to re-finance our senior facility of €100m with Rabobank, our existing provider, and one of our key partner banks. We have extended the current program, which provides us with 12 months to develop a revised program under the Basel III regulations for capital requirements on securitizations, and/or look at alternative funding options,” said TIP Trailer Chief Financial Officer Malachy McEnroe.
Headquartered in Amsterdam, the Netherlands, TIP Trailer Services is one of Europe and Canada’s leading equipment service providers, specializing in trailer leasing, rental, maintenance and repair, as well as other value-added services. It provides these to transportation and logistics customers across Europe and Canada.
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecommunications and transport in the Americas, Europe and Asia.
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