TIP Trailer Services Successfully Refinances its ABS Programme
AMSTERDAM, 8 March 2019: TIP Trailer Services, a portfolio company of I Squared Capital, successfully refinanced its Asset Backed Securitisation (ABS) programme. The Pan-European programme was originally established in 2014 and refinanced once in 2017. The new programme will now run until March 2020.
Bob Fast, CEO, TIP Trailer Services
“Combined with our recent successful 5 year RCF re-financing, the ABS programme provides us with additional support for our long-term growth plans, continuing to support our customers.”
Malachy Mc Enroe, CFO, TIP Trailer Services
“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 programme, which provides us with 12 months to develop a revised programme under the Basel III regulations for capital requirements on securitizations, and/or look at alternative funding options.”
About TIP Trailer Services
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 and provides these to transportation and logistics customers across Europe and Canada. TIP services customers from 100+ locations spread over 17 countries in Europe and Canada.
About I Squared Capital
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecommunications and transport in the Americas, Europe and Asia. The firm has offices in Hong Kong, Houston, London, Miami, New Delhi, New York and Singapore.
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