Cordiant Digital Infrastructure Ltd (LSE:CORD) has refinanced its €200 million Eurobond facility and repaid a €30 million vendor loan note related to the acquisition of Speed Fibre.
The move extends debt maturity by just under three years to July 2029 while providing greater financial flexibility.
Additionally, CORD has arranged €175 million in undrawn credit facilities, including a €105 million growth capex facility and a €70 million multi-currency revolving credit facility.
Maturing alongside the new Eurobond, the new finance will support CORD's growth under its buy, build and grow model.
The new facilities were significantly oversubscribed, the investment trust said, with participants including investment banks DNB and Nomura, and funds managed by Schroders Capital, UBS Asset Management, Infranity, IFM Investors, and PATRIZIA.
The bonds offer improved terms, including a longer tenor and a credit margin ranging from 3.75% to 4.75% over EURIBOR.
As of March 31, CORD's net gearing ratio was 38.9% and would be 44% if the new facilities are fully drawn, below the 50% limit. The company's available liquidity would increase to £291 million from £168 million.
Chairman Shonaid Jemmett-Page said: "The successful raising of the new facilities from leading institutions is testament to the company's high-quality portfolio we have created with long-term contracts, blue-chip customers and inflation-linked revenues."