RSS agrees $45m syndicated loan deal

Hire firm to use cash to pay off existing debt and fund growth plans

Photo for illustrative purposes
Photo for illustrative purposes

Rental Solutions and Services, a company which leases out temporary power, cooling and water units, has successfully arranged its first international $45m syndicated loan.

The $45m facility, which will have a four-year tenure, was arranged through a series of lenders including lead arranges BLME, Citi and Mubadala GE Capital.

The Dubai-based company said the money was raised through a newly-created holding company, ASG Holdings, which is based in Jersey. It will be used to pay off existing loans as well as providing cash for business development and capital expenditure.

CEO Milan Balac said: “The new facilities provided by Citi, Mubadala GE Capital PJSC and BLME represent another key milestone in our corporate development.

"The facilities will enable us to continue our programme of investment, both in fixed assets and human resources, and allow us to continue our impressive growth trajectory while ensuring that we remain true to our 'service first' philosophy.”

The firm was advised by Clearbrook Capital Partners.

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