The successful completion of this refinancing positions Cabka as an organisation poised for sustained success and growth.
By Global FinTech Series News Desk
Cabka N.V., specialised in transforming hard-to-recycle plastic waste into innovative Reusable Transport Packaging (RTP), announces successfully securing full debt refinancing, underwritten by a consortium of banks led by Commerzbank. This milestone reinforces Cabka’s financial stability and positions the company for further growth and innovation.
Cabka has reached an agreement with a consortium, led by Commerzbank AG as Bookrunner and Mandated Lead Arranger and including ING, KBC Bank NV and Rabobank, on a total initial debt facility of € 80 million for four years, including extension options for up to two years as well as an option to increase the facility by an extra € 20 million for further financial flexibility. The facility will be used to enhance Cabka’s growth and innovation capabilities as well as its organisational flexibility.
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The new initial facility of € 80 million consists of two parts; € 30 million term and € 50 million revolving credit, replacing a still outstanding € 27 million debt facility and the current € 30 million revolving credit facility. The new facility is agreed at improved terms and conditions for Cabka reflecting its market potential, commitment to sustainability and improved transparency after listing.
Cabka CFO, Frank Roerink: “We are delighted to announce the successful completion of Cabka’s € 80 million debt refinancing, underwritten by a consortium of esteemed banks led by Commerzbank. This facility as well as the more favourable underlying terms and conditions compared to our current facility reflect the trust and support of our financial partners in Cabka’s vision, strategic direction, and growth prospects. The refinancing not only fortifies our financial footing but also empowers us to accelerate our commitment to innovation and sustainability. It further optimises Cabka’s capital structure, allowing the company to leverage new opportunities and expand its presence in the logistics and material handling sectors.”
Gregor Schuster, Director Corporate Clients, Commerzbank AG commented: “The circular economy is an essential building block for becoming more sustainable as a society. For years Cabka has been doing pioneering work and Commerzbank is proud to have accompanied the company since its inception. For the future development of Cabka, we have now been able to secure this precisely tailored financing together with an international banking consortium. This is a sign of our many years of trusting cooperation.”
Cabka is positioned as an organisation for sustained success and growth with the successful completion of this refinancing. Cabka is well-prepared to navigate market dynamics and deliver pioneering solutions that surpass customer expectations.
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