Vanderlande
Refinancing RCF and bank guarantee lines through international syndicate
- Vanderlande provides tailored and fully automated material handling systems and services. Vanderlande is active in the markets for baggage handling, warehouse automation and sorting solutions in parcel & postal facilities;
- In March 2017, Toyota Industries Corporation acquired 100% of the shares of Vanderlande Industries. Following this acquisition, Vanderlande remained responsible for its own financing package;
- In October 2017, Avaxa was engaged by Vanderlande Industries to assist in this refinancing process;
- Based on the Long-Term Plan of Vanderlande and its required financing need following the projected growth, Avaxa developed a preferred financing structure and syndication strategy, including compiling a long list of potential lenders. On the basis of this, the shareholder decided to initiate the refinancing process and approach the external financing markets;
- The competitive financing raise process including banks and specialised surety providers, resulted in three times oversubscribed credit approved commitments;
- In June 2018, Vanderlande Industries closed the EUR 700mln Refinancing with seven international lenders against very competitive terms and conditions; and
- Throughout the process we were in continuous dialogue with the Japanese shareholder Toyota Industries Corporation to keep them fully aligned to the process.
