The oversubscribed financing marks a significant milestone following InfraVia’s majority stake investment in 2022, and two subsequent strategic build-up acquisitions in 2024 (RGS Nordics in Denmark and REKO in the Netherlands). The strong demand from high-profile infrastructure lenders underscores both the relevance of the circular economy infrastructure thesis and BPG’s position as a resilient and high-quality infrastructure.

The new facilities reflect investor confidence in BPG’s robust and critical business model, the growing demand for infrastructure supporting the circular economy and the energy transition, and the company’s solid track record of performance and execution. The proceeds will enable BPG to develop the platform and consolidate its leadership position through additional bolt-on acquisitions and high-impact capex projects.

Arjen de Jong, CFO of BPG, says: “This successful refinancing highlights the strength of our platform and its track record, the relevance of our mission, and the quality of our team. It provides us with enhanced financial flexibility to further grow our market-leading position in the recycling sector, and to actively contribute to the global energy transition. We warmly thank our lenders for their commitment and contribution to BPG’s success in the years to come”.

Arnaud Delarue, Director, Financing, InfraVia, adds: ” This successful refinancing is a strong vote of confidence in BPG’s infrastructure business model, management team, and long-term strategy. We believe BPG is uniquely positioned to scale its operations, lead industry consolidation, and play a critical role in the transition to a low-carbon, resource-efficient economy.”

Henry Forder, Director, Daiwa-ICP, adds: “We are very pleased with the results of this financing which attracted significant interest from top-tier lenders, reflecting strong confidence in our vision and growth trajectory. This refinancing aligns our capital structure with our ambitious infrastructure financing goals.”

Lenders to the refinancing are funds managed by Allianz Global Investors, BNP Asset Management and Edmond de Rothschild Asset Management, together with the banks Barclays, Crédit Agricole CIB, LBBW, MUFG, Natixis, NORD/LB, Rabobank, and Société Générale.

BPG was advised by Jefferies and Kirkland & Ellis. Lenders were advised by Simpson Thacher & Bartlett.