(Alliance News) – Cordiant Digital Infrastructure Ltd said on Monday that its holding company Emitel SA has had its senior credit facilities refinanced by a consortium of international and domestic lenders.
Cordiant Digital Infrastructure, a Guernsey-based investor in core digital infrastructure, said Emitel’s refinancing secured financing of PLN 1.57bn, or £303.1m, which will mature in 2030.
Emitel is a digital terrestrial television operator and broadcast provider based in Poland.
Cordiant Digital Infrastructure said Emitel’s refinancing was led by a “consortium of leading international and domestic lenders”, including Citi, BNP, Credit Agricole and BNB Bank ASA, as well as banks and financial institutions. Polish.
“The new facilities were 1.6 times oversubscribed and have a blended credit spread of less than 2.9% of the current senior facilities,” Cordiant said.
Cordiant Digital Infrastructure said Emitel will use senior secured loans to repay the existing senior facilities it has implemented in 2020 and also to support Emitel’s growth trajectory by financing its business, operations, new investments and acquisition plans.
Cordiant and its portfolio companies will have no debt maturing prior to June 2025 as a result of this refinancing.
Steven Marshall, Chairman of Emitel’s Supervisory Board and Co-Managing Partner of Cordiant Digital Infrastructure, said: “Emitel is a national champion in Poland with an excellent management team that continues to perform well.
“We look forward to working with the company and this group of banks in the future to drive Emitel’s growth. More generally, our portfolio companies are well capitalized as they seek to achieve their growth ambitions.”
Shares in Cordiant Digital Infrastructure rose 1.6% to 86.16 pence each in London on Monday morning.
By Will Neill, Alliance News reporter
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