REG - Digital 9 Infrastr. - Revolving Credit Facility Refinancing

Digital 9 InfrastructureAnnouncement

14/03/2025 07:00

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RNS Number : 6531A  Digital 9 Infrastructure PLC  14 March 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER
THE UK'S MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT,
SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

14 March 2025

 

DIGITAL 9 INFRASTRUCTURE PLC

 

("D9" or the "Company" and, together with its subsidiaries, the "Group")

 

 Revolving Credit Facility Refinancing

 

The Board announces that the Company has refinanced the principal outstanding
of £53.3 million on its existing Revolving Credit Facility ("RCF") which was
due to expire on 17 March 2025. The renewed RCF, which remains fully drawn,
has been made available to the Company for a committed three-month term
expiring 17 June 2025, and if required two further three-month extension
period options, subject to lender agreement at that time. The pricing for the
initial tenor is at a margin of 425 basis points per annum over Sterling
Overnight Index Average ("SONIA") in addition to the payment of £1.3 million
in fees, comprising an arrangement fee for the new facility and £1 million
relating to a duration fee applied in respect of the historical covenant
breach reported in the results for the half year ended 30 June 2024.

 

Upon receipt of the proceeds from the announced divestment of EMIC-1 and the
release of the EMIC-1 construction commitments, the Company will repay c. £40
million of the RCF balance which will then amount to c. £13 million. The
Company expects to repay the remaining balance using further sales proceeds
and working capital surpluses by the end of H1 2025.

 

The new facility was agreed with the same lending group which includes: Royal
Bank of Scotland International Limited, DNB (UK) Limited, Royal Bank of Canada
and Banco Santander.

 

The Company now expects to release full year results during April in order to
allow for the conclusion of the year end audit process, which is in its final
stages.

 

ENDS.

 

 

 

Contacts

 Digital 9 Infrastructure plc                                                               via FTI Consulting

 Eric Sanderson
 InfraRed Capital Partners Limited                           +44 (0) 207 484 1751

 James O'Halloran

 Mohammed Zaheer
 Panmure Liberum Limited (Financial Adviser to the Company)  +44 (0) 203 100 2222

 Chris Clarke

 Darren Vickers
 J.P. Morgan Cazenove (Corporate Broker)                     +44 (0) 20 7742 4000

 William Simmonds

 Jérémie Birnbaum
 FTI Consulting (Communications Adviser)                     dgi9@fticonsulting.com (mailto:dgi9@fticonsulting.com)

 Mitch Barltrop                                              +44 (0) 7807 296 032

 Maxime Lopes                                                +44 (0) 7890 896 777

 

LEI Code: 213800OQLX64UNS38U92

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Helen Richardson, Company Secretary.

 

About Digital 9 Infrastructure plc

 

Digital 9 Infrastructure plc (DGI9) is an investment trust listed on the
London Stock Exchange and a constituent of the FTSE All-Share, with the ticker
DGI9. The Company's investment objective is to undertake a Managed wind-down
of the Company and realise all existing assets in the Company's portfolio in
an orderly manner. For more information, please visit www.d9infrastructure.com
(http://www.d9infrastructure.com) .

 

About InfraRed Capital Partners (Investment Manager to D9)

 

The Investment Manager to D9 is InfraRed Capital Partners Limited ("InfraRed")
which has successfully invested in infrastructure projects since 1997.
InfraRed is a leading international investment manager, operating worldwide
from offices in London, New York, Seoul, Madrid and Sydney and managing equity
capital in multiple private and listed funds, primarily for institutional
investors across the globe. InfraRed is authorised and regulated by the
Financial Conduct Authority.

 

The infrastructure investment team at InfraRed consists of over 100 investment
professionals, all with an infrastructure investment background and a broad
range of relevant skills, including private equity, structured finance,
construction, renewable energy and facilities management.

 

InfraRed implements best-in-class practices to underpin asset management and
investment decisions, promotes ethical behaviour and has established community
engagement initiatives to support good causes in the wider community. InfraRed
is a signatory of the Principles of Responsible Investment.

 

Further details can be found on InfraRed's website www.ircp.com
(http://www.ircp.com/) .

 

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