Digital Core REIT, a prominent data centre real estate investment trust listed in Singapore, has announced the recasting of its (US$818m) credit facilities. The newly structured facilities include a $254.1m (US$197m) senior unsecured multicurrency term loan maturing in 2030, a $446.3m (US$346m) term loan maturing in 2032, and a $354.8m (US$275m) revolving loan maturing in 2031, with options for two six-month extensions.
The recast aims to refinance existing $923.6m (US$716m) term loans and revolving credit facilities, as well as support working capital and other corporate needs. Notably, the maturity dates have been extended by approximately two and a half years, providing Digital Core REIT with enhanced financial flexibility. The $446.3m (US$346m) loan includes tranches in Japanese Yen and Singapore Dollars, aligning with the REIT’s global asset base.
Dave Craft, CFO of Digital Core REIT Management, expressed satisfaction with the refinancing, stating, “We are pleased to achieve this significant milestone, amending and extending our credit facilities with strong support from world class lenders.” He acknowledged the roles of Citigroup, BofA Securities, and DBS Bank as lead arrangers and bookrunners in the process.
The recast facilities also allow for an increase of up to $645m (US$500m), offering further borrowing capacity. This strategic move underscores the confidence of lending partners in Digital Core REIT’s financial health and operational strategy. The REIT, sponsored by Digital Realty, aims to maintain a diversified portfolio of mission-critical data centre facilities worldwide.
“`
