Digital 9 Infrastructure completes sale of SeaEdge UK1 and repays RCF
Why we think this is good
The RNS announcement indicates that Digital 9 Infrastructure has successfully completed the sale of its interests in SeaEdge UK1 for £10.7 million, which is broadly in line with the asset's net asset value. The company will use the net proceeds of £10.3 million to fully repay and cancel the outstanding Revolving Credit Facility (RCF) balance of £13 million, concluding the fund deleveraging process. This is a positive development as it improves the company's financial position and reduces its debt burden.
Key Points
- Completed sale of SeaEdge UK1 for £10.7 million
- Net proceeds of £10.3 million used to fully repay and cancel RCF balance of £13 million
- Concludes the fund deleveraging process initiated in 2024
Summary
Digital 9 Infrastructure PLC has announced the completion of the sale of its interests in SeaEdge UK1 to Stellium Datacenters Limited for £10.7 million. The sale price is broadly in line with the asset's 31 December 2024 net asset value. The net proceeds of £10.3 million will be used to fully repay and cancel the company's Revolving Credit Facility (RCF) balance of £13 million, concluding the fund deleveraging process initiated in 2024. This transaction improves the company's financial position and reduces its debt burden.