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The stable cash flow from its operational data centres, resulting from long-term contracts with very high rates of renewal and predictable operating expenses, has allowed DigiPlex to recapitalise the businesses by the successful issuance of NKr 575 million bond. The funds raised shall be used to fund further expansion as demand for DigiPlex data centres in the region remains robust.
With the Nordic countries having established themselves as ideal locations for data centre investment, green power and innovative cooling technologies, a network of new, efficient and agile data centres is being constructed. In complete synergy with this background, DigiPlex’s developments are a step-change in providing significant operating efficiencies through the use of hydroelectric power, which is considerably less expensive than power derived from any other power sources on the continent, combined with the on-going benefits of the region’s cool air environment which itself reduces the level of power consumed.
The floating rate note with a four-year tenor 2015/19 has been placed with blue-chip financial institutions and pension funds, and will be listed on the Oslo Stock Exchange (Oslo B?rs).
This latest bond issue follows DigiPlex’s issue in 2014 of a NKr 500 million bond to fund the construction phase of its technologically advanced and environmentally friendly Fetsund data centre just outside Oslo, Norway. This bond issuance attracted international attention as it was the first time a data centre company anywhere had used bond financing for the construction phase of a project, and the first time in Europe that a data centre company had issued a bond.
Byrne Murphy, Chairman of DigiPlex, said: “We have a laser focus on innovation at DigiPlex. This is reflected in our state-of-the art data centre designs, but also in our very selective use of capital to fund our continued growth. We are fortunate in having a leadership team that understands how to use the bond market judiciously, and we are making the most of today’s remarkably low interest rates.
“We have chosen a floating-rate note because we believe that interest rates in the region will remain low for years to come, and may yet drop lower. We are happy to put our money where our mouth is in this respect. For a growing business, this second bond by DigiPlex is a prudent move.”
DigiPlex has grown significantly in recent years and today its operating data centres & development pipeline make it the largest independent owner and operator of data centres in the Nordics. DigiPlex has just opened a technologically advanced new campus style data centre in Stockholm, Sweden.
In April, 2015, its latest data centre near Oslo, a 12 megawatt centre fully contracted for 20 years by EVRY AS - the largest IT services provider in Norway and the second largest in the wider Nordic region - was opened by Tine Sundtoft, Norway’s Minister for Climate and Environment. The Minister highlighted the potential for the region to become a green data centre hub for the world. DigiPlex received the prestigious title of the Enterprise Data Center Award at the Datacentre Dynamics EMEA Awards in December 2015 in recognition of this new Norwegian facility which it named as the best enterprise-class data centre forming the IT backbone of many of the world’s largest organisations.
