The debt facility was underwritten by a Commerzbank-led consortium of banks. Credit: Ratchat via Shutterstock.

Netherlands-based packaging solutions provider Cabka has announced the successful completion of a full debt refinancing process.

The company specialises in transforming hard-to-recycle plastic waste into reusable transport packaging such as pallets and large container solutions.

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The €80m ($86.4m) four-year initial debt facility was underwritten by a Commerzbank-led consortium of banks on improved terms and conditions.

It marks a significant step in strengthening the company’s financial stability and growth trajectory.

Cabka will use the facility to boost its innovation and organisational flexibility.

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The aforementioned consortium includes ING, KBC Bank, and Rabobank, with Commerzbank as bookrunner and mandated lead arranger.

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The facility comes with options to extend it for up to two years. It also has an option that can allow the facility to increase by an additional €20m.

The new €80m facility is divided into a €30m term loan and a €50m revolving credit facility. It replaces an outstanding €27m debt facility and an existing €30m revolving credit line.

Cabka CFO Frank Roerink said: “This facility as well as the more favourable underlying terms and conditions compared to our current facility reflect the trust and support of our financial partners in Cabka’s vision, strategic direction, and growth prospects.

“The refinancing not only fortifies our financial footing but also empowers us to accelerate our commitment to innovation and sustainability.

“It further optimises Cabka’s capital structure, allowing the company to leverage new opportunities and expand its presence in the logistics and material handling sectors.”