PRESS RELEASE Paris, December 1, 2020 – 5.45 p.m.
YOUR OPERATIONAL LEASING SOLUTION FOR SUSTAINABLE TRANSPORTATION
Successful asset refinancing – Containers Business
Touax announces today that it has successfully refinanced asset-backed facilities of its Container division for a total of US$ 75 million, versus US$ 60 million previously, combining a Term Loan of US$ 37 million and a Revolving Credit Facility (RCF) of US$ 38 million with a two-year maturity. The documentation provides for an accordion option, allowing the line to be scaled up to US$ 85 million, to support growth.
This operation allows the refinancing of the existing portfolio of assets as well as the financing of future investments. Touax Container Asset Finance Ltd will thus continue to invest for its development, particularly in the purchase of equipment for leasing purpose.
Financing is granted by ABN AMRO Bank N.V., ING Belgium SA / NV and NIBC Bank N.V.
Touax was advised by Stephenson Harwood (Legal Counsel).
“We are very pleased with the renewed confidence of our banks ABN and NIBC and delighted that ING is now also supporting our Containers business. This financing, of which the overall cost has decreased, comes in a context of a strong market and will allow us to meet our customers’ needs throughout the world”, commented Fabrice and Raphaël Walewski, managing partners of Touax Group.
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TOUAX Group leases out tangible assets (freight railcars, river barges and containers) on a daily basis worldwide, both on its own account and for investors. With nearly €1.1bn in assets under management, TOUAX is one of the leading European players in the leasing of such equipment.
TOUAX is listed on the EURONEXT stock market in Paris – Euronext Paris Compartment C (ISIN code: FR0000033003) – and is listed on the CAC® Small, CAC® Mid & Small and EnterNext©PEA-PME 150 indices.
For further information please visit: www.touax.com
Fabrice & Raphaël WALEWSKI Ghislaine Gasparetto
www.touax.com Tel: +33 1 56 88 11 11
Tel: +33 1 46 96 18 00
- EN TOUAX PR Refi TCAF 12012020