Goodbye job applications, hello dream career
Seize control of your career and design the future you deserve with LW career

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.

user iconEmma Musgrave 06 December 2022 Big Law
CDC Data Centres advised on transactions worth $3bn
expand image

Firm: Gilbert + Tobin (CDC Data Centres)

Deal: CDC Data Centres (CDC) has been advised on the refinancing and upsizing of its debt facilities and its US private placement (USPP) issuance.

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.”