TDC NET enters into new secured infrastructure financing

Plesner is acting as lead transaction counsel to TDC Holding and its subsidiaries, TDC NET and Nuuday (TDC Group) in connection with a comprehensive financing transaction, including a new secured infra-structure financing for TDC NET.

On 31 January 2022, TDC NET established a new secured infrastructure financing platform and entered into in aggregate EUR 3.3 billion of committed new bank facilities. In addition, Nuuday entered into a revolving credit facility with a bank syndicate. The proceeds from the new bank facilities at TDC NET will be used to repay existing senior secured facilities at TDC Holding.

The standalone financing of TDC NET follows from the separation of the TDC Group into two standalone companies, TDC NET and Nuuday. Based on TDC NET's unique position as a leading provider of national telecom infrastructure and following the final steps of separation, a secured infrastructure finance struc-ture will be established around TDC NET. Such covenanted ring-fencing of TDC NET from the remainder of the TDC Group is expected to produce a favourable business risk profile and hence greater financing flexibility going forward. The new financing platform will support TDC NET in pursuit of its strategic goals to develop Denmark's digital infrastructure of the future.

A Plesner team led by financing and capital markets partner Anne Cathrine (AC) Ingerslev acted as lead transaction counsel to TDC Group throughout the entire refinancing process, including the structuring and development of the new financing platform for TDC NET. This is a groundbreaking financing transaction, setting new standards for secured infrastructure financings in the Danish market.

For further information, please see the company's press release

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