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Pin to quick picksDigital 9 Regulatory News (DGI9)

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Revolving Credit Facility Increase of £75 million

8 Aug 2022 07:00

RNS Number : 1509V
Digital 9 Infrastructure PLC
08 August 2022
 

8 August 2022

DIGITAL 9 INFRASTRUCTURE PLC

("DGI9", the "Company" or, together with its subsidiaries, the "Group")

 

Revolving Credit Facility Increase of £75 million

 

The Board of Digital 9 Infrastructure plc (ticker: DGI9) is pleased to announce that the Group has signed its first increase under the terms of its existing Revolving Credit Facility (the "RCF"). The increase of £75 million, brings the total aggregate capital commitments provided by the bank syndicate (the "Lenders") to £375 million. The Group may request further increases, subject to Lenders' approval and subject to the Company's Borrowing Policy, of up to an additional £125 million. The triggering of the accordion facility has no impact on the terms of the RCF, which remain unchanged.

 

Triple Point Investment Management LLP, the Group's Investment Manager, continues to identify attractive investment opportunities for the Company's portfolio. The RCF increase will provide the Group with additional committed capital, to help finance the acquisition of further investments from its near-term pipeline and to fund growth capital expenditure for its existing investee companies. The Investment Manager remains focused on converting its pipeline of over £2 billion of potential assets.

 

Phil Jordan, Chair of Digital 9 Infrastructure plc, said:

"We are delighted to have secured further support from our bank syndicate, reflecting the strengthening credit and financial resilience of the Company following our recent acquisitions and capital raise. The additional firepower will fund existing commitments across our balanced portfolio as well as supporting our attractive near-term pipeline."

 

Ralph Weichelt, Head of Debt Capital Markets at Triple Point Investment Management LLP, added:

 

"Securing an additional £75 million of debt capital whilst retaining the original, competitive terms of the RCF is an important further milestone of the Company's longer-term debt strategy. Over the last months we were able to develop an excellent relationship with the bank syndicate and we value their strong support of the digital infrastructure sector."

FOR FURTHER ON THE COMPANY INFORMATION, PLEASE CONTACT:

Triple Point Investment Management LLP (Investment Manager)

Thor Johnsen

Andre Karihaloo

+44 (0)20 7201 8989

J.P. Morgan Cazenove (Corporate Broker)

William Simmonds

Jérémie Birnbaum 

+44 (0)20 7742 4000

FTI Consulting LLP (Communications Adviser)

Mitch Barltrop

Gina Magnin

dgi9@fticonsulting.com

 

+44 (0) 7807 296 032

+44 (0) 7815 585 751

 

LEI: 213800OQLX64UNS38U92

 

NOTES:

 

Digital 9 Infrastructure plc (DGI9) is an investment trust listed on the London Stock Exchange with ticker DGI9. The Company invests in the infrastructure of the internet that underpins the world's digital economy: digital infrastructure.

 

The number 9 in Digital 9 Infrastructure comes from the UN Sustainable Development Goal 9, which focuses the fund on investments that increase connectivity globally and improve the sustainability of digital infrastructure. The assets DGI9 invest in typically comprise scalable platforms and technologies including (but not limited to) subsea fibre, data centres, terrestrial fibre, and wireless networks.

 

From its IPO in March 2021 and subsequent capital raises, DGI9 has raised total equity of £905 million and total aggregate capital commitments of £375 million under a revolving credit facility, committed or invested into the following data centres, subsea fibre and wireless networks:

 

· Aqua Comms, a leading owner and operator of 20,000km of the most modern subsea fibre systems - the backbone of the internet - with a customer base comprising global tech and global telecommunications carriers (April 2021);

· Verne Global, the leading Icelandic data centre platform, with 40MW of high intensity computing solutions in operation or development, powered by 100% baseload renewable power (September 2021);

· EMIC-1, a partnership with Meta on a 10,000km fibre system from Europe to India (July 2021);

· SeaEdge UK1, a data centre and landing station for the North Sea Connect subsea cable, part of the North Atlantic Loop subsea network, improving connectivity between the UK, Ireland, Scandinavia and North America (December 2021);

· Host Ireland, a leading enterprise broadband provider that owns and operates Fixed Wireless Access networks (April 2022);

· Volta, a premier data centre based in central London, providing 6MW retail co-location services (April 2022);

· Ficolo, a leading Finnish data centre and cloud infrastructure platform, with c.23MW of data centre capacity, powered by 100% renewable power and distributing surplus heat to district heating networks (July 2022); and

· Arqiva, the only national terrestrial television and radio broadcasting network in the United Kingdom providing data, network and communications services, as well as a national IoT connectivity platform (announced June 2022).

 

The Investment Manager is Triple Point Investment Management LLP ("Triple Point") which is authorised and regulated by the Financial Conduct Authority, with extensive experience in infrastructure, real estate and private credit, while keeping ESG principles central to its business mission. Triple Point's Digital Infrastructure team has over US$ 300 billion in digital infrastructure transaction experience and in-depth relationships across global tech and global telecoms companies. For more information, please visit www.triplepoint.co.uk.

 

The Company's Ordinary Shares were admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 31 March 2021.

 

For more information, please visit www.d9infrastructure.com.

 

 

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MSCUPUMCRUPPGAA
Date   Source Headline
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