Cordiant secures €200m Eurobond for infra investment
Cordiant Digital Infrastructure (Cordiant), a digital infrastructure investor has signed a €200 million Eurobond facility (facility).
“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," said Steven Marshall, chairman of digital infrastructure at Cordiant Capital - the investment manager.
"We continue to seek attractive investment opportunities for our shareholders and look forward to drawing on the facility to deliver on our pipeline.”
The facility gives the company fresh committed capital to finance new acquisitions within Cordiant's pipeline and fund growth capital expenditure within its existing portfolio of operating companies.
“The Company has secured a flexible financing arrangement that will support its investment programme with capital from leading infrastructure investors," said Shonaid Jemmett-Page, chairman, Cordiant Digital Infrastructure.
"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.”
The facility was create through a private placement with an international syndicate made up of funds managed or advised by Schroders Capital, UBS Asset Management and Allianz Global Investors, as well as specialist infrastructure bank Kommunalkredit Austria AG.
“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,” added Augustin Segard, fund manager, infrastructure debt, Schroders Capital.
The facility has an initial maturity date of 30 September 2026, with an extension option of up to three years 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 subsidiary that holds Coridant's European investments.
“Digital infrastructure is a key area for Kommunalkredit and we are excited to be partnering with Cordiant Digital Infrastructure Limited," said Birgit Brinda, head of structuring and execution, Kommunalkredit.
"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.”