New Eurobond Facility of €200 million, Supporting New Acquisitions and Investment Growth
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 €200 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”).
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.
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.”
Augustin Segard, Fund Manager, Infrastructure Debt at Schroders Capital, commented:
“Schroders Capital is pleased to be supporting Cordiant Digital Infrastructure Limited as an anchor bondholder in this landmark transaction, which we believe provides our investors with exposure to a set of strong and diversified businesses with long-term, inflation-linked contracts in a sector with high growth dynamics.”
Birgit Brinda, Head of Structuring and Execution at Kommunalkredit, said:
“Digital infrastructure is a key area for Kommunalkredit and we are excited to be partnering with Cordiant Digital Infrastructure Limited. The Company operates in some of our core geographic markets, which possess attractive economic fundamentals and fast-growing digital economies. We look forward to supporting the Company in delivering its investment programme and expanding our relationship in the years to come.”
CORD was advised by Allen & Overy LLP (legal). The Bondholders were advised by Clifford Chance LLP (legal).
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