Refinancing deal helps Peacock spread its wings
Peacock is one of the leading tank container leasing companies in the world, with offices in the Netherlands, Singapore and the US. It owns and operates a fleet of around 5,000 containers, which are used to transport a range of liquid bulk products.
Peacock’s more than 100 diverse customers lease these containers on contracts for three to seven years. The contracts provide stable long-term cash flow, which along with Peacock’s asset base of high-spec containers, makes the company an attractive prospect to lenders.
Peacock is also well positioned in the growing market for tank containers, as it offers a solution that is more tailored than larger parcelled shipments. Strong support from the company’s Dutch shareholders has also helped it grow rapidly in this niche market.
To support Peacock with its capital-intensive growth ambition to double its fleet of containers in the next four years, NIBC helped increase the company’s revolving borrowing base facility to USD 60 million.
NIBC had previously advised Peacock to switch from a more traditional leasing product like BEEQUIP to a corporate secured borrowing base facility, to give the company more flexibility with its fleet operations.
This existing relationship and the expert understanding our Shipping & Intermodal team has of the dynamic market in which Peacock operates convinced us to get on board and help the company fulfil its ambition to become a top 10 global leasing company.
In NIBC, we’ve found a knowledgeable partner that has helped us grow in our capital-intensive industry. - Peacock’s managing director Jesse Vermeijden