REG - Cordiant Digital Inf - Trading Update

Cordiant Digital InfrastructureAnnouncement

22/03/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220322:nRSV4998Fa&default-theme=true

RNS Number : 4998F  Cordiant Digital Infrastructure Ltd  22 March 2022

LEI: 213800T8RBBWZQ7FTF84

22 March 2022

 

Cordiant Digital Infrastructure Limited

 

Trading Update

Cordiant Digital Infrastructure Limited (the "Company" or "Cordiant
Digital"), an investor in the core digital infrastructure that enables modern
communications and the internet, announces an update on its acquisition of
Emitel, operational performance of CRA, sales progress at DataGryd, and an
update on its pipeline.

Emitel

Emitel is a multi-asset digital infrastructure business based in Poland. It
operates a network of communication towers, fibre-optics and a nationwide
sensor network, serving major utilities. Cordiant Digital has received
anti-trust approval from the Polish authorities for the acquisition of Emitel
S.A. ("Emitel"), announced in January 2022. This represents an important step
in a multi-stage government and regulatory approvals process.

Following the invasion of Ukraine by Russian troops, the Polish Zloty has
weakened against the Pound and has shown increased volatility.  Consequently,
the Company is in the process of implementing a prudent currency risk
management strategy.

Emitel and CRA are supporting the delivery of television and radio channels in
Ukrainian across their respective geographies, in order to provide Ukrainian
refugees with important updates on the Russian invasion, administrative
information and entertainment. Cordiant Digital's assets do not have any
commercial exposure to Ukraine, Belarus or Russian counterparties.

DataGryd

Since completing the acquisition of leading US interconnect data centre
operator, DataGryd, in January, new Heads of Sales and Marketing have joined
the team. In the few weeks since the acquisition, the qualified pipeline of
new sales opportunities has increased by ca. 85%, a reflection of the new
ownership stability at the company. In addition, the marketing team is in the
midst of a comprehensive corporate rebranding that reflects the strategic
interconnect nature of the asset.

Progress on the sales front underscores the value of already announced plans
to deploy US$75m in expanding the facilities.  This will be undertaken on a
phased basis over the coming quarters reflecting Cordiant Digital's "buy,
build & grow" model.

CRA

CRA - which operates over 660 towers, 6 edge data centres, 3730 kilometres of
fibreoptic network and a nationwide Internet of Things networks, serving major
utilities - continues to generate new sales opportunities across its various
business lines.  For example, it recently signed a 10 year network backbone
contract extension, secured an expansion of data centre services to a major
retailer and is experiencing strong customer interest related to 5G rollout on
its mobile towers.

Pipeline and Acquisition Finance

Cordiant Digital's pipeline of qualified opportunities has continued to grow,
and now exceeds EUR 3 billion. Geographically this pipeline (which is, as
expected, well diversified by infrastructure category) is roughly equally
split between North America and Western Europe.

In order to support this pipeline, Cordiant Digital has advanced conversations
with lenders regarding a structured acquisition facility.

Cordiant Digital Portfolio & Inflation

Cordiant Digital offers investors a strong and diversified collection of
cash-flowing digital assets in the US and Europe, with an aggregate enterprise
value on closing of Emitel exceeding ca. GBP 1.1 billion.  In Management's
view, these assets often offer protection against inflation through price
escalators embedded in long-term contracts, many of which are with blue-chip
customers.

-ENDS-

 

For Further Information, please contact:

 Cordiant Digital Infrastructure Management Ltd                                                                                                           +44 (0) 20 7201 7546

 Investment Manager

 Stephen Foss, Managing
 Director

 Ocorian Administration (Guernsey) Limited                                                                                                                +44 (0) 1481 742742

 Company Secretary and Administrator

 Ian Smith / Eimear Coleman

 Investec Bank plc                                                                                                                                        +44 (0) 20 7597 4000

 Joint Corporate Broker

 Tom Skinner (Corporate
 Broking)

 Lucy Lewis / Denis Flanagan (Corporate Finance)

 Jefferies International                                                                                                                                  +44 (0) 20 7029 8000
 Limited

 Joint Corporate Broker

 Stuart Klein / Gaudi Le Roux

 Celicourt                                                                                                                                                +44 (0)20 8434 2643

 PR Adviser

 Philip Dennis / Felicity Winkles

 

Notes to Editors:

Cordiant Digital Infrastructure Limited primarily invests in the core
infrastructure of the digital economy - data centres, fibreoptic networks and
broadcast and telecommunication 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., 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.

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTFLFEEVEILFIF