IFCO, a provider of 
Reusable Packaging Containers (RPCs) for fresh food, has successfully refinanced the Term Loan B in an Amend and Extend transaction ahead of schedule. The volume has been increased to EUR 1,640 million and the Revolving Credit Facility to EUR 310 million. The transaction met with very high demand from institutional investors from both domestic and foreign markets. The previous loan was taken out in May 2019 after the joint acquisition of IFCO by Triton and ADIA.
The Term Loan B now has a term until 2029 and is equipped with an initially favorable interest margin of only 4.0 percent p.a. The highly attractive refinancing terms are also reflected in the waiver of an Original Issue Discount (OID), which has not been seen in Europe before. Almost 90% of existing lenders remained committed to IFCO; furthermore, the transaction has raised new funds of over EUR 500 million, with the order book being almost twice oversubscribed.
IFCO prepares for further growth
With the new loan, IFCO succeeds in expanding the financing framework for its planned further growth and takes advantage of the favorable market environment to extend the credit lines. The global operating provider of reusable packaging containers for the transportation of fresh food has already expanded strongly worldwide in recent years.
Demand for reusable packaging solutions continues to grow as companies increase focus on implementing sustainable solutions as part of their ESG commitments. IFCO RPCs enable companies to actively participate in the circular economy by replacing single-use packaging and significantly reducing CO2 emissions, solid waste, and food waste.
For more information: ifco.com