Cordiant Digital Infrastructure Ltd New Eurobond Facility of EUR200 million (2406O)
June 09 2022 - 2:02AM
UK Regulatory
TIDMCORD
RNS Number : 2406O
Cordiant Digital Infrastructure Ltd
09 June 2022
This announcement has been determined to contain inside
information for the purposes of the UK version of the market abuse
regulation (EU) No.596/2014.
09 June 2022
Cordiant Digital Infrastructure Limited
New Eurobond Facility of EUR200 million
Cordiant Digital Infrastructure Limited (the "Company", "CORD"),
an investor in the core digital infrastructure that enables modern
communications and the internet, is pleased to announce the signing
of a EUR200 million Eurobond facility (the "Facility" or
"Eurobonds"). The Facility provides fresh committed capital to
finance new acquisitions from the Company's investment pipeline and
fund growth capital expenditure within CORD's existing portfolio of
operating companies.
The Facility has been established through a private placement
with an international syndicate comprising funds managed and/or
advised by Schroders Capital, UBS Asset Management and Allianz
Global Investors, as well as specialist infrastructure bank
Kommunalkredit Austria AG (collectively the "Bondholders"). EUR80
million of the Facility is conditional on completion of the
previously announced acquisition of Emitel S.A. ("Emitel").
The Facility has an initial maturity date of 30 September 2026,
with an extension option of up to three years (subject to the
approval of Bondholders) and will be issued in both fixed and
floating interest rate tranches. The Eurobonds will be issued by
Cordiant Digital Holdings Two Limited, the Company's wholly owned
subsidiary that holds CORD's European investments, and will
complement existing bank facilities at the operating company
level.
Following completion of the Emitel acquisition and in the event
the Eurobonds are issued in full, the weighted average credit
margin of the group's debt facilities is expected to be c.3.25% and
aggregate group debt is expected to be c.40% of gross asset
value.
Steven Marshall, Chairman of Digital Infrastructure, Cordiant
Capital Inc., the Investment Manager, commented:
"We are delighted by the strong demand in, and successful
outcome of, this private placement, which has been supported by
high quality, sector-specialist investors, reaffirming the
attractive fundamentals and growth prospects of our existing
portfolio. We continue to seek attractive investment opportunities
for our shareholders and look forward to drawing on the Facility to
deliver on our pipeline."
Shonaid Jemmett-Page, Chairman of the Company, said:
"The Company has secured a flexible financing arrangement that
will support its investment programme with capital from leading
infrastructure investors. The successful raising of the Facility is
testament to the Company's high-quality portfolio of assets with
long-term contracts and inflation-linked revenues."
-ENDS-
For Further Information, please visit
www.cordiantdigitaltrust.com or contact:
Cordiant Capital Inc.
Investment Manager
Stephen Foss, Managing Director +44 (0) 20 7201 7546
Ocorian Administration (Guernsey) Limited
Company Secretary and Administrator
Kevin Smith / Danielle McCaugherty +44 (0) 1481 742742
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Investec Bank plc
Joint Corporate Broker
Tom Skinner (Corporate Broking)
Lucy Lewis (Corporate Finance) +44 (0) 20 7597 4000
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Jefferies International Limited
Joint Corporate Broker
Stuart Klein / Gaudi Le Roux +44 (0) 20 7029 8000
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Celicourt
PR Adviser
Philip Dennis / Felicity Winkles +44 (0)20 8434 2643
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Notes to Editors:
Cordiant Digital Infrastructure Limited primarily invests in the
core infrastructure of the digital economy - data centres,
fibreoptic networks and telecommunication and broadcast towers -
"the plumbing of the internet" - in the UK, Europe and North
America. Further details of the Company can be found on the
Company's website at www.cordiantdigitaltrust.com .
Cordiant Capital Inc. ("Cordiant"), the Company's investment
manager, is a sector-focused investment manager with particular
expertise and experience in digital infrastructure. Cordiant
invests in global infrastructure and real assets, running
infrastructure private equity and infrastructure private credit
strategies through limited partnership funds and managed accounts.
Cordiant's current client base consists of global insurance
companies, pension plans and family offices.
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END
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