REG - Cordiant Digital Inf - Datacenter United Senior Refinancing

Cordiant Digital InfrastructureAnnouncement

30/09/2025 07:00

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RNS Number : 2688B  Cordiant Digital Infrastructure Ltd  30 September 2025

LEI: 213800T8RBBWZQ7FTF84

30 September 2025

 

CORDIANT DIGITAL INFRASTRUCTURE LIMITED

 

DATACENTER UNITED SENIOR REFINANCING

 

Cordiant Digital Infrastructure Limited (the Company or CORD), the
operationally focused, specialist digital infrastructure investor, managed
by Cordiant Capital Inc (Cordiant Capital or the Investment Manager), is
pleased to announce that its portfolio company, Datacenter United (DCU), has
raised a five-year senior financing package of €120 million from a
consortium of banks comprising DNB, Belfius Bank and NIBC Bank.

 

The new facilities have a bullet repayment structure with a maturity in
September 2030 and comprise:

 

 ·             a drawn term loan of €50 million to refinance existing senior debt of €10
               million and repay shareholder loans of €40 million;
 ·             an undrawn capex facility of €50 million to fund DCU's expansion plans
               through growth capex and bolt-on acquisitions; and
 ·             a revolving credit facility and ancillary facilities totalling €20 million
               for working capital and other general corporate purposes.

 

The facilities have an opening margin of 2.25% over Euribor, representing
highly competitive pricing resulting from significant oversubscription by
lenders in the process. Interest rate hedging will be implemented shortly to
manage the floating rate exposure of the new debt facilities.

 

As a result of the repayment of shareholder loans, the Company will receive a
cash distribution, pro-rata for its 37.4% economic stake in DCU, of €15
million. The proceeds of this distribution will be used primarily to repay
part of CORD's revolving credit facility at the holding company level.

 

There has been no material impact on CORD's pro-forma gearing and leverage
ratios of 40.8% and 4.6x respectively as of 30 June 2025, as reported in the
First Quarter Trading Update. CORD and its portfolio companies have no debt
facilities maturing until June 2029.

 

Steven Marshall, executive chairman of Cordiant Digital Infrastructure
Management, said:

"We are delighted with the strong support shown by both international and
local lenders in this refinancing, which attracted significant interest from
the banking market. The new facilities provide Datacenter United with a
flexible, long-term capital structure to support its ambitious growth and
acquisition plans. This transaction demonstrates both the strength of DCU's
operating platform and the robustness of the underlying European data centre
market, where secular growth trends underpin demand."

For further information, please visit www.cordiantdigitaltrust.com
(http://www.cordiantdigitaltrust.com) or contact:

 

 Cordiant Capital Inc.                                +44 (0)20 3814 5939

 Investment Manager                                   CordiantDigitalTrust@cordiantcap.com

                                                    (mailto:CordiantDigitalTrust@cordiantcap.com)
 Stephen Foss, Managing Director

 Aztec Financial Services (Guernsey) Limited          +44 (0) 1481 74 9700

 Company Secretary and Administrator                  cord@aztecgroup.co.uk (mailto:cord@aztecgroup.co.uk)

 Chris Copperwaite/Laura Dunning

 Investec Bank plc                                    +44 (0) 20 7597 4000

 Joint Corporate Broker

 Tom Skinner (Corporate Broking)

 Lucy Lewis (Corporate Finance)

 Deutsche Numis                                       +44 (0) 20 7260 1000

 Joint Corporate Broker

 Hugh Jonathan / George Shiel

 Celicourt                                            +44 (0)20 7770 6424

 Public Relations Advisor                              CDI@celicourt.uk (mailto:CDI@celicourt.uk)

 Philip Dennis/Ali AlQahtani/Charles Denley-Myerson

 

Notes to Editors:

About the Company

 

Cordiant Digital Infrastructure Limited (the Company) primarily invests in
the core infrastructure of the digital economy: data centres; fibre-optic
networks; telecommunications and broadcast towers - in Europe and North
America. Further details about the Company can be found on its website
at www.cordiantdigitaltrust.com (http://www.cordiantdigitaltrust.com/) .

 

The Company is a sector-focused specialist owner and operator of Digital
Infrastructure, listed on the London Stock Exchange under the ticker CORD. In
total, the Company has successfully raised £795 million in equity, along with
a €375 million debt package, comprising a €200 million Eurobond and €175
million of committed capex and revolving facilities, deploying capital into
six acquisitions: CRA, Hudson, Emitel, Speed Fibre, Belgian Tower Company and
Datacentre United, which together offer stable, often index-linked income, and
the opportunity for growth, in line with the Company's Buy, Build & Grow
model.

 

About the Investment Manager

 

Cordiant Capital Inc (Cordiant Capital) is a specialist global infrastructure
and real assets manager with a sector-led approach to providing growth capital
solutions to promising mid-sized companies in Europe, North America and
selected global markets. Since the firm's relaunch in 2016, Cordiant Capital,
a partner-owned and partner-run firm, has developed a track record of
exceeding mandated investment targets for its clients.

Cordiant Capital focuses on the next generation of infrastructure and real
assets; sectors (digital infrastructure, energy transition infrastructure and
the agriculture value chain) characterised by growth tailwinds and
technological dynamism. It also applies a strong sustainability and ESG
overlay to its investment activities.

With a mix of managed funds offering both value-add and core strategies in
equity and direct lending, Cordiant Capital's sector investment teams
(combining experienced industry executives with traditional private capital
investors) work with investee companies to develop innovative, tailored
financing solutions backed by a comprehensive understanding of the sector and
demonstrated operating capabilities. In this way, Cordiant Capital aims to
provide value to investors seeking to complement existing infrastructure
equity and infrastructure debt allocations.

The Investment Manager's Digital Infrastructure team was co-founded by Steven
Marshall, formerly President at American Towers Corporation (NYSE: AMT), who
chairs all the major portfolio companies. The team consists of 18
professionals who bring considerable hands‑on investing and operating
expertise to its investment approach. This investing strategy can be
summarised as acquiring and expanding cash-flowing Digital Infrastructure
platforms across Europe and in North America.

About DCU

 

DCU entered the portfolio in February 2025 and is the sixth platform asset
acquired by the Company since its launch in 2021 and is consistent with the
Company's investment strategy of buying cash flow generating businesses
capable of growth under the Buy, Build & Grow model. DCU has 13MW of IT
power, split across 14 data centres in 12 locations in Belgium. DCU has
capacity expansion potential of an additional 11MW, most of which could be
built across the existing sites.

 

Following the syndication of €20 million to a Cordiant Capital-managed fund,
the Company holds a 37.4% underlying economic interest in DCU, and the
Cordiant Capital-managed fund holds a 10.1% underlying economic interest.
Cordiant Capital manages the collective 47.5% economic (50% voting) interest
in DCU. The other shareholders in DCU are TINC, the specialist Belgian
infrastructure investor, which has a 47.5% economic (50% voting) interest and
Friso Haringsma, the CEO of DCU, who has a 5% (non-voting) interest.

 

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