(Alliance News) - Cordiant Digital Infrastructure Ltd said on Monday that its portfolio company Emitel SA has had its senior loan facilities refinanced by a consortium of international and national lenders.
Cordiant Digital Infrastructure, a Guernsey-based investor in core digital infrastructure, said that Emitel's refinancing has secured PLN1.57 billion, or GBP303.1 million, of financing which will mature in 2030.
Emitel is a Poland-based digital terrestrial television operator, and radio broadcast emissions provider.
Cordiant Digital Infrastructure said that Emitel's refinancing was led by a "consortium of leading international and national lenders", including Citi, BNP, Credit Agricole, and BNB Bank ASA, alongside Polish banks and financial institutions.
"The new facilities were 1.6 times oversubscribed and have a blended credit margin lower than 2.9% of the current senior facilities," Cordiant said.
Cordiant Digital Infrastructure said that Emitel will use the senior secured term loans to retire the existing senior facilities it implemented in 2020, and also to support Emitel's growth trajectory by financing its operational activities, new investments, and acquisition plans.
Cordiant and its portfolio companies will have no debt maturing until June 2025 following the refinancing.
Chair of the supervisory board of Emitel and Co-Managing Partner of Cordiant Digital Infrastructure Steven Marshall said: "Emitel is a national champion in Poland with an outstanding management team and continues to perform strongly.
"We look forward to working with the company and this group of banks in the future to spur further growth of Emitel. More broadly our portfolio companies are well capitalised as they look to deliver on their growth ambitions."
Shares in Cordiant Digital Infrastructure were up 1.6% at 86.16 pence each in London on Monday morning.
By Will Neill, Alliance News reporter
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