AMSTERDAM--(BUSINESS WIRE)--On 9 March 2020, TIP Trailer Services, a portfolio company of I Squared Capital, successfully refinanced its Asset Backed Securitization (ABS) programme. The Pan-European programme was originally established in 2014 and will now run until March 2021. As part of the refinancing, the credit rating of the securitization programme has also been upgraded to AA from A (bank internal rating), reflecting the strength of the underlying assets.
Bob Fast, CEO, TIP Trailer Services
“We are delighted to announce the re-financing of our €100m senior facility with Rabobank, our existing provider, and one of our key partner banks. The extension of the program provides us with support for achieving our long term growth plans and enables us to serve our customers effectively. The improved credit rating demonstrates the attractiveness of the facility, and has allowed us to maintain competitive financing costs for the overall portfolio.”
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. TIP services customers from 102+ locations spread across 17 countries. For more information, please visit: https://www.tipeurope.com
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.