Q-Park gains confidence from major banks
A Pan-European bank consortium led by ING Real Estate Finance (Co-ordinator), Rabobank and KBC have confirmed their confidence in Q-Park by participating in the new Corporate Financing of EUR 965 million.
Q-Park, an international, Dutch owned parking company, has secured extensive financing for a total of EUR 965 million for three years, committed by ING, Rabobank, KBC, ABN AMRO/HBU II, Dexia bank, Banque Palatine, LCL and Handelsbanken. Herewith these banks demonstrate their confidence in the positive development and long-term vision of Q-Park as described in the 2010 2012 Business Plan recently approved by the shareholders.
This financing package at corporate level and the confidence of the shareholders, expressed in the recent share issue of EUR 50 million, means that ongoing activities as well as the acquisitions and capital expenditure as stated in the Business Plan are fully funded. For Q-Park, with an annual turnover exceeding EUR 600 million, this creates a stable financial framework for the upcoming planning period, so the strategic focus can now concentrate fully on optimising the operational company.
Q-Park is market leader in several countries and promotes an unambiguous, high quality brand policy. Quality is also the starting point for Q-Park's corporate social responsibility, where sustainability, safety and wellbeing are the central themes in and around the parking facilities. This is expressed in many ways, including the availability of AEDs, working with sustainable construction and maintenance materials, reducing traffic searching for a parking space (and therefore CO2 emissions) by linking to parking guidance systems and social parking fee strategies to regulate mobility.
Q-Park sees the car parking market as part of the mobility chain and advocates regulating mobility in urban areas, paid parking being the primary instrument. At the forefront in this is the fairness principle the user pays because up to now, disproportionately large amounts of tax payers money are spent on (free) parking instead of meeting other societal requirements such as education and healthcare.
This financing package at corporate level and the confidence of the shareholders, expressed in the recent share issue of EUR 50 million, means that ongoing activities as well as the acquisitions and capital expenditure as stated in the Business Plan are fully funded. For Q-Park, with an annual turnover exceeding EUR 600 million, this creates a stable financial framework for the upcoming planning period, so the strategic focus can now concentrate fully on optimising the operational company.
Q-Park is market leader in several countries and promotes an unambiguous, high quality brand policy. Quality is also the starting point for Q-Park's corporate social responsibility, where sustainability, safety and wellbeing are the central themes in and around the parking facilities. This is expressed in many ways, including the availability of AEDs, working with sustainable construction and maintenance materials, reducing traffic searching for a parking space (and therefore CO2 emissions) by linking to parking guidance systems and social parking fee strategies to regulate mobility.
Q-Park sees the car parking market as part of the mobility chain and advocates regulating mobility in urban areas, paid parking being the primary instrument. At the forefront in this is the fairness principle the user pays because up to now, disproportionately large amounts of tax payers money are spent on (free) parking instead of meeting other societal requirements such as education and healthcare.
About Q-Park
Q-Park is one of the three leading providers of parking facilities in Europe, whether wholly-owned, managed or in a hybrid business model. Q-Park is recognisable by its quality approach and has a portfolio comprising over 800,000 parking spaces and office accommodation in the Netherlands, Germany, Belgium, Great Britain, France, Ireland, Denmark, Sweden, Norway and Finland.With its publication Quintessence the logic behind paid parking, Q-Park has introduced a socially responsible standard for the parking industry. This addresses the five urban challenges with the five related tasks: investment, management, control, monitoring, setting fees.
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