IFCO reduces interest expense through its long-term loan repricing, reflecting resilience in its business performance

Key Financial Highlights:

In February 2024, IFCO successfully refinanced the Term Loan B in an Amend and Extend transaction ahead of schedule.  The volume increased to EUR 1,640 million and the Revolving Credit Facility to EUR 310 million. The Term Loan B received a term until 2029 and was equipped with an interest margin of 4.0 percent p.a. following the recent repricing, the margin has now been reduced to 3.75%, reflecting the company's strong performance and deleveraging capabilities. This reduction also demonstrates strong confidence from lenders in IFCO's business model and future growth trajectory.

IFCO anticipates robust growth, meeting increased market demand for sustainable packaging solutions through customer acquisitions in Europe and North America, as well as organic expansion across Asia. Ongoing operating cost containment measures will further support IFCO's sustainable growth strategy by delivering unrivalled value to its customers.

For more information, contact:

Inigo Canalejo
Vice President, ESG and Strategic Marketing
[email protected] 
Phone:  +49 89 74491300

Pictures for download: https://www.ifco.com/wp-content/uploads/IFCO-Financing-PR.zip

About IFCO

IFCO is a leading global provider of reusable packaging solutions for fresh foods, empowering customers to participate in the circular economy in 50+ countries. IFCO operates a pool of over 380 million Reusable Packaging Containers (RPCs) globally, which are used for 2 billion shipments of fresh fruits and vegetables, meat, poultry, seafood, eggs, bread, and other items from suppliers to grocery retailers every year. IFCO RPCs ensure a better fresh food supply chain by protecting freshness and quality and lowering costs, food waste and environmental impact compared to single-use packaging. More: www.ifco.com | Follow us on LinkedIn @IFCO SYSTEMS

View original content:https://www.prnewswire.co.uk/news-releases/ifco-reduces-interest-expense-through-its-long-term-loan-repricing-reflecting-resilience-in-its-business-performance-302279372.html