Login
CDC Data Centres advised on transactions worth $3bn
Gilbert + Tobin has advised CDC Data Centres on the financing and upsizing of its debt facilities and its US private placement issuance.
Emma Musgrave
Firm: Gilbert + Tobin (CDC Data Centres)
Value: The refinancing and upsizing is worth $2.7 billion, while the US private placement issuance is worth $308 million.
Area: Banking and projects
Key players: The Gilbert + Tobin team was led by banking and projects partner Stuart Cormack with support from corporate advisory partner David Josselsohn.
The pair were supported by lawyers Jack Naughton, James Soussa and Catrina Chen.
Deal significance: According to a statement from Gilbert + Tobin, the bank debt transaction involved 15 lenders participating across multiple tranches ranging from two to seven years, whilst the USPP provided long-term funding (10 and 15-year tranches).
“The new bank debt facilities and USPP will provide CDC with additional liquidity and funding certainty for its development pipeline, as well as improved flexibility for its operations and continued growth to facilitate the implementation of its business plan,” the firm’s statement said.
Commenting further, Gilbert + Tobin’s lead partner Stuart Cormack said: “It was a pleasure to assist CDC on this transformative debt financing and capital markets issuance.
“This transaction demonstrates that despite volatile capital markets, there is still very strong appetite in the Australian and global debt markets for high-quality borrowers like CDC Data Centres.
“With the demand for data centre space at an all-time high in Australia and New Zealand, and with no sign of this slowing down, CDC’s new debt structure make[s] it exceedingly well placed to capitalise on this growth.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
Email Emma on:
