The financing establishes a flexible Common Terms Platform and a new industry-first Green Financing Framework. The new capital structure comprises long-term (up to 15 year) multi-currency Green Private Placement Notes, Green Bank Term Loans, and Revolving Credit Facilities.
Adapteo, Europe’s leading provider of premium modular space solutions for social infrastructure, has secured significantly oversubscribed financing with a peak interest of ~3x, driven by strong demand from top infrastructure banks and both European and U.S. institutional investors. It marks the first investment grade rating in the European modular solutions sector and establishes a robust and scalable capital structure. The funds will enable Adapteo to expand its modular fleet and scale its operations in high-demand areas such as education, healthcare, worker accommodation, and other essential infrastructure, responding to the growing need for flexible, high-quality space across Europe.
The facilities are supported by a Green Financing Framework which received a second party opinion from DNV, an independent assurance and risk management provider, confirming alignment with the LMA Green Loan Principles and ICMA Green Bond Principles. The inclusion of the Green Facilities reflects Adapteo’s circular business model and deep commitment to sustainability.
Johanna Persson, President and CEO of Adapteo, says “This successful refinancing marks a pivotal moment in our growth journey and is a clear vote of confidence in both our sustainable strategy and long-term vision. We see a strong and growing demand for premium modular solutions across Europe, and this positions us to accelerate our expansion while staying true to our purpose: delivering strong performance with positive impact.”
Chief Financial Officer, Dan Levine, continues “We are excited to see this level of interest from top infrastructure banks and both European and US institutional investors. The overwhelming response—alongside our industry-first investment grade rating—highlights the strength of our platform and financial foundation. This financing provides the funding to secure our future growth plans and to build on our market leading position.”
Adapteo was advised by Jefferies and NatWest acting as Joint Debt Advisors, and Latham & Watkins as Borrower Counsel.