News
Modulaire Group announces Term Loan B add on
Modulaire Group announces Term Loan B add on
LONDON (9th May 2023) – Modulaire Group, Europe and Asia Pacific’s leading business services company specialising in modular services and infrastructure, has today announced plans to raise additional funds.
On the back of the Group’s strong performance, deleveraging and attractive market conditions, Modulaire plans to raise an incremental €150m Senior Secured Term Loan B on a fungible basis to the existing €1,650m Term Loan B due December 2028. Proceeds will be used to repay the partially drawn Revolving Credit Facility, for general corporate purposes and to pay transaction fees and expenses.
The lender presentation, which includes incremental information on the Mobile Mini business acquired by Modulaire in January this year and also an update on current trading, will be available at https://www.modulairegroup.com/investors/financial-reports (Lender Presentation May 2023)
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About Modulaire Group
Modulaire is a leader in European modular services and infrastructure. We create smart spaces for people to work, learn and live. Our business helps customers find the right space solution, no matter what their requirements. Modulaire has operations in 23 countries with over 335,000 modular space and portable storage units and 4,400 remote accommodation rooms. The company operates as Algeco, its largest brand, across much of Europe and the United Kingdom.
Other operating brands include Advanté in the United Kingdom, Altempo in France, Algeco Chengdong in China, Ausco and NET Modular in Australia, and Portacom in New Zealand.
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For further information:
Investor relations: Rosie Jones
investorrelations@modulairegroup.com
07866 946 003
Media enquiries: Teneo
0207 353 4200