Completion of bond issuance and tender significantly strengthens Global Switch’s capital structure
Further to its announcements of 24 May and 1 June 2017, Global Switch Holdings Limited (“Global Switch” or “the company”) the leading owner, operator and developer of large scale, multi-tenanted, carrier neutral data centres in Europe and Asia-Pacific, announces that as the result of its successful €1 billion bond issuance and tender of €296,371,000 in April 2018 notes:
- Global Switch’s weighted average debt maturity has extended from 2.2 to 5.9 years; and
- Global Switch’s weighted average cost of bond debt has reduced from 5.1% to 3.2%.
Upon maturity of the remaining April 2018 notes:
- Global Switch’s weighted average debt maturity will further extend from 5.9 years to
6.0 years; and
- Global Switch’s weighted average cost of bond debt will further reduce from 3.2% to 2.8%.
John Corcoran, Chief Executive Officer of Global Switch, said:
“We are extremely pleased by the success of this bond issue, which was more than 3.4 times oversubscribed, and of the tender. Together, these transactions have significantly lowered the average cost and extended the average maturity of our debt, enabling us to continue our measured expansion strategy with an even stronger capital structure.”
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For further information or media enquiries please contact:
Jenny Davey / Rebecca Fitchett, Finsbury, +44 20 7251 3801, firstname.lastname@example.org
Ali Ballantine, Global Switch, +44 20 7802 5154, email@example.com