Fintech PR
Kao Data Completes £206M Debt Raise with Deutsche Bank to Accelerate Data Centre Platform Expansion
- New debt facility, provided by leading data centre lender, Deutsche Bank, is extendable to £356 million, supporting the accelerated demand for infrastructure engineered for AI and advanced computing.
- New funding will help propel growth across Kao Data’s operational and planned assets and will support its expansion plans across the UK and Europe.
- Further, Kao Data’s sustained growth provides successful refinancing of existing lenders, one of which is Downing LLP.
LONDON, Jan. 24, 2024 /PRNewswire/ — Kao Data, the specialist developer and operator of data centres engineered for AI and advanced computing, has announced it has successfully completed a new, £206 million debt raise, with an accompanying accordion facility extendable to £356 million, via one of the world’s leading lenders to the data centre sector, Deutsche Bank.
The announcement marks a significant step forward for Kao Data, providing debt financing to fast-track its new contracted developments with customers across the cloud, AI and financial services, and the build-out of its KLON-06 data centre in Slough.
Deutsche Bank, which has vast experience in the structuring of sustainable, digital infrastructure assets, has provided financing to drive the expansion of the business in line with growing customer demand for GPU-powered computing. The funding will support Kao Data’s expansion into next-tier markets across the UK and continental Europe. In late 2023 Kao Data also established a new capital structure with its shareholders Infratil Ltd, Legal & General Capital, and Goldacre Noé Group, which will provide incremental equity investment to accelerate Kao Data’s strategic growth plans.
The debt facility, for which Deutsche Bank have been named mandated lead arranger and sole underwriter, will allow Kao Data to consolidate its debt with a single, large financial services organisation, refinancing those existing lenders who have played an integral role in the advancement of its secure, highly scalable, and sustainable data centre platform during the last decade.
As such, a proportion of the new funding will repay Downing LLP, a UK-based responsible investment management firm founded in 1986, which invests across a range of sectors, including renewable energy, infrastructure, healthcare, operational real estate and property development. Downing has partnered with Kao Data since its earliest development debt requirements and has subsequently helped fund its growth from a single-site development to a UK-wide platform.
“The success of our new debt raise is testament to the growth of our business, our reputation for industry-leading operations and technical delivery, and both the scale and demand for world-class infrastructure, engineered for AI,” said Matthew Harris, CFO, Kao Data. “I’d like to thank our lenders for their trust in our philosophy and ambition, which has been fully vindicated during the last decade, and all who have played an instrumental part in the evolution of the Kao Data platform. Looking forward, we are delighted to be working with one of the world’s leading digital infrastructure lenders in Deutsche Bank.”
“Since our first meeting with the company’s founders in 2015, we’ve been early believers in Kao Data’s expertise, mindset, and its vision for growth. We were delighted to provide Kao Data with growth capital funding in 2017 and saw an attractive opportunity to support them in the development of their sustainable data centre platform,” said Tom Phillips, Head of Institutional Business Development, Downing. “During the term of our investment, Kao Data has proved itself as an excellent example of what we look for in the businesses we like to back: a high-quality management team with a compelling business case. We are proud to have helped the company establish a firm foothold as a leader in one of the world’s most competitive, international data centre markets, whilst also delivering a successful return for our funds.”
Kao Data’s new financial capability with Deutsche Bank reinforces an exceptional twelve months for the organisation, which has secured several key customers from within the AI, hyperscale cloud, research, and financial services sectors. In May 2023 Kao Data also announced a new £350M investment into a state-of-the-art Greater Manchester data centre, followed by the completion of its KLON-02 facility in Harlow in November.
Kao Data’s advanced data centre portfolio now includes more than 160MW of IT-load, either currently operational, under development or planned – all of which is underpinned by the highest energy efficiency, sustainability, and environmental, social, and corporate governance (ESG) credentials.
To learn more its data centre platform, engineered for AI, visit the website.
*Editors note: Kao Data was advised by Broadstone Capital Advisors, Eversheds Sutherland, Amberside Advisors, BDO, and Turner & Townsend.
About Kao Data
Kao Data leads the industry, pioneering the development and operation of data centres engineered for AI and advanced computing. With hyperscale-inspired facilities east and west of London, and northern England’s largest data centre planned for Greater Manchester, we are home to technology’s most demanding computing infrastructure.
Our award-winning, NVIDIA DGX-Ready certified data centres are designed, engineered, and operated by one of the industry’s most respected teams. Together, this provides colocation customers deploying mission critical AI, enterprise, and cloud workloads with a secure, scalable, and sustainable compute environment, backed by a guarantee of 100% uptime.
Kao Data’s data centre portfolio includes more than 160MW of IT load, either currently operational, under development or planned – all of which is under-pinned by the highest energy efficiency, sustainability and ESG credentials.
Backed by leading international investors, and with several pioneering ‘industry firsts’ to our name, Kao Data represents the future in industrial scale, high-capacity data centres for AI and the next generation of compute.
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments, and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
About Downing LLP
Downing is a responsible investment manager established in London in 1986. We currently manage £1.9 billion of assets under a broad range of investment mandates across our funds, investment trusts and tax-efficient products. As a certified B Corporation, we are focussed on creating a sustainable future, our key investment areas are renewable energy, infrastructure, property and healthcare.
View original content:https://www.prnewswire.co.uk/news-releases/kao-data-completes-206m-debt-raise-with-deutsche-bank-to-accelerate-data-centre-platform-expansion-302043604.html
Combined group would create an industry leader with an extensive global product portfolio and financial strength to support long-term growth objectives
TORONTO and LONDON, Nov. 29, 2024 /PRNewswire/ — ABC Technologies (the “Company”) today announces that it has reached an agreement on the terms of a recommended all-cash offer for the acquisition by ABC Technologies Acquisitions Limited of the entire issued and to be issued ordinary share capital of TI Fluid Systems plc (“TI Fluid Systems”).
TI Fluid Systems is a London-listed, market-leading global manufacturer of thermal and fluid system solutions for the full range of current and developing vehicle architectures. Operating across 27 countries and serving all major automotive manufacturers, TI Fluid Systems has a commitment to operational excellence and sustainability worldwide.
Together, ABC Technologies and TI Fluid Systems will enjoy an expanded global footprint and enhanced product portfolio. This will allow access to a broader and more diversified range of customers, including some of the largest and most recognizable automotive OEMs and Tier One suppliers worldwide.
“This transaction is a transformative strategic opportunity which unlocks value for all of our stakeholders and provides a platform for further growth,” said Terry Campbell, President and CEO, ABC Technologies. “A combined business will enable us to better serve our customers, and I am excited for our teammates as we continue to build a winning future. We will be persistent in seeking alignment with organizations that have proven capabilities to further ABC’s success story.”
Combining the rich heritages of ABC Technologies and TI Fluid Systems – both established leading manufacturers across different product segments – will create a business that benefits from an enhanced go-to-market proposition and greater financial strength to support the long-term growth objectives and a winning vision for the future. ABC Technologies is majority-owned by funds managed by affiliates of Apollo Global Management, Inc.
Under the terms of the transaction, shareholders of TI Fluid Systems will be entitled to receive 200 pence a share, valuing TI Fluid Systems at an enterprise value of approximately £1,831 million.
The Acquisition is currently expected to complete in H1 2025, subject to shareholder and other relevant legal and regulatory approvals.
Lazard acted as lead financial advisor to ABC Technologies; Citi, TD Securities and Scotiabank also acted as financial advisers.
Kirkland & Ellis International acted as legal advisor to ABC Technologies and Paul, Weiss, Rifkind, Wharton & Garrison acted as legal advisor in respect of regulatory and financing matters.
This press release must be read in conjunction with the Rule 2.7 announcement which is available on the London Stock Exchange RNS and along with other documents related to the transaction on www.projectgolfoffer.com.
About ABC Technologies
ABC Technologies is a leading global manufacturer and supplier of custom, highly engineered, technical plastics, and light-weight innovations to the North American light vehicle industry. Serving more than 25 major original equipment manufacturer customers in 8 countries, the Company is strategically placed to offer vertically integrated product and process solutions through a skilled workforce of over 11,000 team members. ABC Technologies is majority owned by certain of the affiliated funds of Apollo Global Management, Inc. and its subsidiaries, with funds managed by Oaktree Capital Management, L.P. owning a minority equity interest in ABC Technologies. Additional information about the Company can be found at www.abctechnologies.com.
Additional Information
This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. Any offer (if made) will be made solely by certain offer documentation which will contain the full terms and conditions of any offer (if made), including details of how it may be accepted.
View original content:https://www.prnewswire.co.uk/news-releases/abc-technologies-announces-recommended-offer-to-acquire-ti-fluid-systems-302318634.html
STOCKHOLM, Nov. 29, 2024 /PRNewswire/ — Hoist Finance AB (publ) has successfully issued SEK 700 million of senior non-preferred bonds with a tenor of 4.25 years. The bonds were issued under Hoist Finance’s EMTN program and were priced at 3-months STIBOR +250 basis points.
“I am very pleased to announce Hoist Finance’s first broadly distributed issue of senior non-preferred bonds, which was met by strong demand from more than 20 Nordic investors. This is the first senior non-preferred bond issue by a Nordic non-SIFI bank. This issuance marks an important step for our strategy to promote continued growth while maintaining a cost-efficient capital structure and supporting our investment grade credit rating from Moody’s,” says Harry Vranjes, CEO of Hoist Finance.
The proceeds from the bond issue will be used for general corporate purposes. The instruments will be listed on the regulated market Irish Stock Exchange plc, known as Euronext Dublin. The bonds are expected to be rated Ba1 by Moody’s.
Senior non-preferred bonds
Senior non-preferred bonds are subordinated to senior preferred bonds in the hierarchy of repayment.
For more information, please contact:
Karin Tyche, Chief Investor Relations and Communications Officer
[email protected]
+46 76 780 97 65
About Hoist Finance
Hoist Finance is an asset manager specialised in non-performing loans. For more than 25 years, we have focused on investing in and managing debt portfolios. We are a partner to international banks and financial institutions across Europe, acquiring non-performing loan portfolios. We are also a partner to consumers and SMEs in a debt situation, creating long-term sustainable repayment plans enabling them to convert non-performing debt to performing debt. We are present in 12 markets across Europe and our shares are listed on Nasdaq Stockholm. For more information, please visit hoistfinance.com.
This information was brought to you by Cision http://news.cision.com
View original content:https://www.prnewswire.co.uk/news-releases/hoist-finance-successfully-issues-senior-non-preferred-bonds-302318629.html
MARKING ITS NINTH STRATEGIC PARTNERSHIP WITH GLOBAL WEALTH FUNDS
MUSCAT, Oman, Nov. 29, 2024 /PRNewswire/ — As part of His Majesty Sultan Haitham bin Tarik’s state visit to the Republic of Türkiye, Oman Investment Authority (OIA), Oman’s Sovereign Wealth Fund, announced a US$500 million collaboration with Türkiye’s state-owned OYAK Fund. This joint capital allocation, with equal contributions from both entities, underscores Oman’s commitment to strengthening economic ties with global partners while advancing mutual growth and development.
This partnership will focus on investments in Oman and Türkiye, with prospects for expansion into other international markets.This initiative further reinforces OIA’s ongoing strategy to establish high-value investment alliances that deliver significant financial and strategic returns.
H.E. Abdulsalam bin Mohammed Al Murshidi, President of the Oman Investment Authority, stated: “We have built a global reputation and sufficient expertise to form impactful partnerships that bring tangible benefits to Oman’s economy. This latest collaboration with OYAK Fund seamlessly aligns with our strategic objectives to expand our investment network and secure meaningful returns.”
OYAK General Manager Süleyman Savaş Erdem added, “The joint fund we have established with the Oman Investment Authority is an indication of the trust in our country and our corporation. With this fund, we will be making investments in strategic areas not only in both countries, but also in different regions of the world. This partnership will strengthen our vision of being a global company.”
OYAK Fund brings significant resources and expertise to this collaboration, enhancing its potential to drive economic growth in both countries. Key industries targeted for investment include mining, metals, automotive manufacturing, logistics, chemicals, agriculture, food production, and energy. It also aims to facilitate technology transfer and localize expertise in Oman, fostering capacity building and knowledge sharing.
This agreement marks OIA’s ninth strategic partnership with global entities, building on successful collaborations with Saudi Arabia, Qatar, Spain, Brunei Darussalam, Vietnam, Uzbekistan, Pakistan, and India. These alliances have delivered positive outcomes, such as new investments, profitable exits, and increased capital allocations. The authority’s growing portfolio underscores its pivotal role in driving Oman’s economic diversification and international economic diplomacy.
By leveraging the expertise and resources from trusted international partners, OIA continues to pave the way for sustained economic growth and prosperity for the Sultanate of Oman.
Contact:
For more information, please contact:
Fahad Al Toubi, Senior Specialist – Media Relations
+968 92155655
[email protected]
Photo – https://mma.prnewswire.com/media/2569604/Oman_Investment_Authority.jpg
View original content:https://www.prnewswire.co.uk/news-releases/oia-announces-a-us500-million-strategic-collaboration-with-turkiyes-oyak-fund-302318625.html
-
Fintech PR7 days agoAlkira Ranked 25th Fastest-Growing Company in North America and 6th in the Bay Area on the 2024 Deloitte Technology Fast 500™
-
Fintech3 days agoFintech Pulse: A Daily Dive into Industry Innovations and Developments
-
Fintech PR7 days agoCorinex Ranked Number 331 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™
-
Fintech PR7 days agoCathay Financial Holdings Advances Climate Finance Leadership at COP29, Championing Public-Private Partnerships and Asia’s Low-Carbon Transition
-
Fintech PR7 days agoROYAL CANADIAN MINT REPORTS PROFITS AND PERFORMANCE FOR Q3 2024
-
Fintech PR6 days agoRedefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore
-
Fintech2 days agoFormer MD of SUI Foundation, Greg Siourounis, Joins xMoney Global as Co-Founder and CEO to build MiCA-Regulated Stablecoin Platform
-
Fintech PR7 days agoEliTe Solar: Realizing Our Mission and Standing by Our Core Values