AMSTERDAM--(BUSINESS WIRE)--On 21 September 2017, TIP Trailer Services announced that it had successfully refinanced its Asset Backed Securitisation (ABS) program. The Pan-European program was originally established in 2014 and is a securitisation structure common under Dutch law for operating leases. The new program will run until March 2019.
“The extra funding and improved conditions will allow us to better support our leasing customers with competitive operating lease solutions in addition to providing them with a full range of maintenance services. It will further support our growth aims over the coming years.”
Bob Fast, CEO TIP Trailer Services
“We had strong appetite from a number of banks for this program, but were delighted to renew and increase the senior facility to €100m with Rabobank, our existing provider and one of TIP’s key partner banks. Since we’ve implemented the program in 2014, interest rates have declined and we have been able to re-finance on more attractive terms.”
Malachy Mc Enroe, CFO, TIP Trailer Services
“We originally structured this Pan-European program together with TIP Trailer Services in 2014. It was the first such program in the trailer leasing industry. We are delighted to continue to support TIP through this expanded ABS program.”
Sven Bax, Managing Director, Rabobank Wholesale