G+T have advised CDC Data Centres (CDC) on the A$2.7 billion refinancing and upsizing of its debt facilities and its A$308 million US Private Placement issuance, the first capital markets issuance for the group.

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 G+T team was led by Banking + Projects Partner, Stuart Cormack with support from Corporate Advisory partner David Josselsohn. Stuart and David were supported by lawyers Jack Naughton, James Soussa and Catrina Chen.

Stuart commented “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 it exceedingly well placed to capitalise on this growth.”

G+T's Banking + Projects team is recognised in the leading legal directories, including most recently being ranked at Band 1 for Banking and Finance – Acquisition Finance and Banking and Finance - Corporate Finance by Chambers Asia-Pacific 2022. G+T has significant experience advising leading Australian and international financial institutions, investment banks, corporations and private equity funds. G+T act for lenders, borrowers, sponsors and consortia on a range of issues from high-value corporate transactions and major bespoke financings to complex restructuring projects.

Media Contact