Interparking

Case Study

Interparking sets up $225 million Revolving Shelf Facility with draw of Notes

Based in Brussels, Interparking is a leading European car park operator, managing 490,000 car parking spaces across 1,011 European sites located in 406 cities, and serves 120+ million customers a year.

At a Glance

In April 2022, we first met the management team and built a relationship with subsequent meetings and dialogue. During Summer 2023, the Interparking team had a near-term capital need, and both parties pushed towards closing a transaction together. In December 2023, PGIM set up a $225 million multi-currency PGIM Private Shelf Facility and provided €50 million of Senior Unsecured Notes with a 10-year bullet maturity.

Interparking decided to partner with us given i) our relationship-oriented, flexible approach, ii) the possibility of further draws under the shelf framework to finance their upcoming capex, and iii) our long-term financing with certainty of execution.

We are excited to formalise our partnership with Interparking through this investment, and we look forward to continuing to support the Company into the future.

Relationship Since 2023

Transaction details:

$225,000,000 PGIM Private Shelf Facility

With an initial draw of

€50,000,000 Senior Unsecured Notes

“We are pleased to partner with PGIM after building a relationship over the last few years. PGIM provided funding for Interparking to meet its refinancing and growth objectives while adding tenor and diversification to the funding book. We appreciated PGIM's speed of execution and ability to structure a bespoke funding solution to facilitate Interparking’s financing needs over the long-term”

Edouard de Vaucleroy, CFO Interparking