Team Global Express (formerly Toll Global Express) secures A$250m loan

Today’s announcement will support Global Express’ investments to support growth and further improve reach into key regional and rural areas.

Team Global Express CEO Christine Holgate said:

“Today’s announcement is reflective of the strong momentum of the Team Global Express business since it was acquired by Allegro only 12 months ago. In our first year we have achieved 16% revenue growth, invested in the business, and improved our profitability. We have more work to do, but our results combined with our new agreement with CBA, underpin a stronger future for our Group.

“I want to thank the Commonwealth Bank team, particularly Andrew Hinchliff (CBA’s Group Executive, Institutional Banking and Markets) for working with the Global Express Team to make this agreement possible.

“As we continue to simplify, transform and grow the Team Global Express business, we are pleased with our progress achieved by putting the focus back on our people and customers.

CBA’s Group Executive, Institutional Banking and Markets, Andrew Hinchliff said: “Team Global Express’ momentum and strategic direction position it well to meet the strong demand for sustainable solutions across Australia’s transport system. We’re pleased to support TGE’s continued transformation through the provision of this loan facility, which demonstrates CBA’s structuring capability and supply chains expertise.

“We look forward to continuing to work closely with Christine and the TGE management team as they further invest in the business, and in a range of exciting new sustainability initiatives. Supporting Australia’s transition to a brighter, more sustainable future is a strategic priority for CBA, and it aligns well with the goals of TGE.”