Natixis CIB Supports Brookfield Asset Management with DCI Refinancing
Natixis CIB's Infrastructure and Energy Finance team in Sydney and the Green & Sustainable Hub (“GSH”) recently supported Brookfield Asset Management (“Brookfield”), as the mandated lead underwriter, bookrunner, arranger and co-sustainability coordinator in the refinancing of its DCI Data Centers (“DCI”) portfolio in Australia and New Zealand.
The transaction consisted of a green & sustainability linked term loan to refinance DCI’s existing facilities, a capex facility to support its ongoing growth of the business in Australia and New Zealand, and a revolving credit facility. The green feature supported the eligible green assets of DCI while the sustainability linked loan (“SLL”) format demonstrated DCI’s and Brookfield’s commitment to growing the data center business in an environmentally accountable and sustainable way. The structuring of a combined green and sustainabilitylinked feature for a data center player is a world 1st in the market which illustrates Natixis CIB's expertise in supporting clients with green and sustainable financing products as companies and countries globally strive to meet climate targets.
DCI Data Centers Sustainable Finance Framework was reviewed by Sustainalytics which provided the Second Party Opinion and confirmed that the transaction aligned with the Green Loan Principles and Sustainability Linked Loan Principles.
DCI’s portfolio is comprised of two operational data center sites located in Sydney (Eastern Creek) and Adelaide (Kidman Park) with a total load capacity of 8.6MW servicing major national and international companies. DCI currently has an additional five sites under development in Sydney (Eastern Creek), Adelaide (Kidman Park and Mawson Lakes), Auckland and Darwin.
Natixis CIB acted as underwriter and mandated lead arranger when Brookfield acquired DCI in January of 2019.
DCI Data Centers is a data center owner and operator that is challenging the way facilities are built and operated. It brings together innovative, environmentally-efficient technologies and construction methods to enable the rapid deployment of secure cloud and hyperscale compute environments.
With a growing fleet of data centers across Australia, New Zealand and Asia, DCI Data Centers’ mission is to become the preferred partner in the Asia Pacific region for the delivery of purpose-built, highly secure, and resilient data center solutions.
Brookfield Asset Management is a leading global alternative asset manager with approximately US$650 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. The company is headquartered in Toronto, with corporate offices in New York City, London, Rio de Janeiro and Sydney.