Allens has advised CDC Data Centres Australia on raising $1.7bn in the Australian debt capital markets through the establishment of an A$ senior debt program and an A$ subordinated debt program.
In June, CDC issued a $1 billion corporate hybrid in two tranches, which provided CDC with 50 per cent equity credit. This significant corporate hybrid issuance by CDC was the first rated corporate hybrid issued by a data centre operator in the Australian Medium Term Note (AMTN) market.
In July, CDC followed up its corporate hybrid issuance with another first – this time, the first senior debt issuance by a data centre operator in the AMTN market. The issuance was a $700m dual-tranche senior secured debt issuance.
Lead partner James Darcy said: 'These transactions represent significant funding milestones for CDC, and also a diversification of the Australian debt capital markets into the digital infrastructure sector. We were pleased to support CDC on the delivery of two successful transactions that set new precedents for data centre issuers in Australia.'
The transactions further demonstrate Allens' experience advising on complex financing and capital markets transactions across the digital infrastructure sector.
