New Revolving Credit Facility of £300 million
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.
15 March 2022
DIGITAL 9 INFRASTRUCTURE PLC
("D9", the "Company" or, together with its subsidiaries, the "Group")
New Revolving Credit Facility of £300 million
The Board of Digital 9 Infrastructure plc (ticker: DGI9) is pleased to announce that the Group has signed a £300 million Revolving Credit Facility (the "RCF") with an international syndicate of four banks including the Royal Bank of Scotland International Limited ("RBSI"), DNB (UK) Limited, Royal Bank of Canada and Banco Santander (collectively the "Bank Syndicate" or the "Lenders"). The RCF has a further uncommitted accordion provision allowing the Group to request an increase, subject to Lenders' approval and subject to the Company's Borrowing Policy, of up to an additional £200 million.
The RCF is the Group's first debt facility and has an initial term of three years expiring on 14 March 2025 which, subject to Lenders' approval, may be extended twice by a further 12 months. The interest rate payable is subject to the expansion of the portfolio and the Group meeting certain financial covenant thresholds and will range between 3.25% and 3.75% per annum over Sterling Overnight Index Average ("SONIA").
Triple Point Investment Management LLP, the Group's Investment Manager, continues to identify attractive investment opportunities for the Company's portfolio. The new RCF will provide the Group with additional committed capital, to help finance the acquisition of further investments from its near-term pipeline. The Investment Manager remains focused on converting its pipeline of c.£2 billion of potential assets.
Thor Johnsen, Head of Digital Infrastructure at Triple Point Investment Management LLP, commented:
"We are delighted to have secured a flexible RCF in order to maintain an efficient balance sheet, enabling us to act quickly on attractive investment opportunities. We are pleased to welcome the Bank Syndicate as new counterparties into our relationship group and value their strong support of the digital infrastructure sector. The level of lender interest we have received on this transaction reaffirms the attractive fundamentals and growth prospects of this asset class and the quality of our existing portfolio."
Ralph Weichelt, Head of Debt Capital Markets at Triple Point Investment Management LLP, added:
"We were pleased to have developed jointly with RBSI as structuring bank and the wider Bank Syndicate a new lending framework for a growing sector. We are looking forward to working closely with the Bank Syndicate to deliver D9's ambitious growth program in the years to come."
Brad Mitchell, Relationship Director at RBS International Limited, Institutional Banking, said:
"Investment into digital infrastructure has become increasingly important with high activity in the market. We are delighted to have the opportunity to support D9 in this space, and act as structuring bookrunner and coordination bank for this bespoke RCF and look forward to supporting the Company with their ambitious growth program in the years to come and expanding on the relationship."
RBSI acted as structuring bank, sole coordinator and bookrunner for the new facility.
Taylor Wessing LLP acted as legal adviser to the Group.
Macfarlanes LLP acted as legal adviser to the Bank Syndicate.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT
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Triple Point Investment Management LLP (Investment Manager) Thor Johnsen Andre Karihaloo
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+44 (0) 20 7201 8989 |
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J.P. Morgan Cazenove (Corporate Broker) William Simmonds Jérémie Birnbaum
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+44 (0) 20 7742 4000 |
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Akur Capital (Financial Adviser) Tom Frost Siobhan Sergeant
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+44 (0) 20 7493 3631 |
LEI: 213800OQLX64UNS38U92
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