European logistics company CTP has secured a new €1.3 bn, 5-year revolving credit facility (RCF), replacing a previous, €550 mln facility and serves as a backup line of credit.
The RCF is sustainability-linked, meaning the interest rate will vary based on CTP's performance against environmental targets, including energy efficiency, solar power adoption, and green lease agreements.
Richard Wilkinson, CTP's Group CFO, commented: ‘The new €1.3 bn RCF is materially increasing our liquidity position, supporting the financial stability and future growth of CTP. This also reflects that CTP has more than doubled the size of the portfolio since the IPO in March 2021, and our increased capital markets activities. We continue to strengthen the relationship with our key banking partners, with most of the existing RCF lenders increasing their exposure, while also attracting several new banks in the facility, broadening our lenders pool.’
Fifteen banks participated in the RCF, with Citi and ING acting as coordinators and Citi, ING, and SMBC Group as sustainability coordinators.
As of 30 September 2024, CTP has 12.6 million m2 of gross lettable area across ten countries.
