
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 Eric Sanderson | via FTI Consulting |
InfraRed Capital Partners Limited James O'Halloran Mohammed Zaheer | +44 (0) 207 484 1751
|
Panmure Liberum Limited (Financial Adviser to the Company) Chris Clarke Darren Vickers | +44 (0) 203 100 2222 |
J.P. Morgan Cazenove (Corporate Broker) William Simmonds Jérémie Birnbaum | +44 (0) 20 7742 4000 |
FTI Consulting (Communications Adviser) Mitch Barltrop Maxime Lopes | +44 (0) 7807 296 032 +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.
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.
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