Rubicon Infrastructure Advisors Raises Debt for Communications Assets In Ireland

Rubicon Infrastructure Advisors (“Rubicon”) is pleased to have reached financial close on the procurement of debt for Cignal Infrastructure Limited (“Cignal”).  This follows Rubicon’s advisory role in Cignal’s acquisition of various communications assets and sites from Coillte, which closed in August of this year.  This transaction represents the third Irish infrastructure transaction that Rubicon has closed during the second half of 2015 with Rubicon having also closed the sale of the PPP contract for the Convention Centre Dublin and its related assets in July 2015.

Cignal, one of the leading providers of communications infrastructure towers and sites throughout Ireland, announced today that it has successfully raised senior debt for its business. Cignal is backed by Infravia Capital Partners, a French-based investment fund manager specialising in infrastructure.

Following a competitive process conducted by Rubicon, an Irish based investment banking firm, Bank of Ireland and Investec Bank plc were selected as the mandated lead arrangers.

The Cignal portfolio consists of approximately 300 telecommunications towers and equipment locations across Coillte’s estate. Ireland’s leading mobile network operators are the primary customers of the portfolio. Cignal is Irish based and is managed by a dedicated team with extensive experience of the communications infrastructure sector in Ireland.

Cignal plans to grow its business through the development of the existing portfolio and to significantly add to it either by acquisition or new infrastructure development to meet industry needs.

According to Donal O’Shaughnessy, Executive Chairman of Cignal, the company and its investors are deligted to have been able to fully integrate the acquired Coillte Assets, build a highly experienced management team and successfully complete the debt raise within the first 4 months of the business.

In addition to Rubicon, A&L Goodbody (Legal) advised Cignal, whilst Arthur Cox (Legal) and Vilicom (Technical) advised Bank of Ireland and Investec.

Further information on Cignal:

• Cignal’s portfolio currently consists of 404 owned and 3^rd party towers sited across 297 locations right across Ireland, representing approximately 16% of the towers actively supporting commercial communications in the Irish market.
• Cignal has significant commercial relationships with all of the mobile network operators as well as radio, broadcast, emergency and transport communication service providers, many of whom have an extensive presence of the company’s portfolio.
• The company is managed by a dedicated team with extensive experience in the sector with a track record of working collaboratively with all major Irish telecom operators and land owners.

About InfraVia Capital Partners:

InfraVia Capital Partners is an investment manager dedicated to the infrastructure sector. InfraVia Capital Partners manages two infrastructure funds, which are both positioned as long term investors across the infrastructure and energy sectors in Europe. InfraVia Capital Partners is affiliated with OFI Asset Management.

Backed by two major French mutual insurance companies, Macif and Matmut, OFI Asset Management puts its asset management skills at the service of third-party investors. With almost €64 billion of assets under management, OFI Asset Management aims to offer a complete range of products and services to European institutional investors.

About Bank of Ireland:

Bank of Ireland Group (the “Group”) is one of the largest financial services groups in Ireland. The Group provides a broad range of banking and other financial services. These services include; current account and deposit services, overdrafts, term loans, mortgages, business and corporate lending, international asset financing, leasing, instalment credit, invoice discounting, foreign exchange facilities, interest and exchange rate hedging instruments, life assurance, pension and protection products. All of these services are provided by the Group in Ireland with selected services being offered in the UK and internationally.

The Group has the largest network of retail branches and ATM outlets in Ireland as well as joint ventures in the UK engaged in the provision of consumer financial services. Corporate Banking and Global Markets conduct the Group’s international business with offices in Dublin, London and the US, as well as branches in Paris and Frankfurt.

About Investec Bank plc:

Investec Bank plc, with offices in the UK and Ireland, is a distinctive specialist bank. Its Power & Infrastructure Finance team has been at the forefront of the infrastructure finance market for over 20 years offering a full suite of financial services across a wide range of specialist infrastructure sectors. We advise, arrange finance, structure and underwrite transactions.

Investec’s project finance specialists have a deep understanding of the markets they serve. Within the team, financiers work alongside engineers and industry professionals. They share their expertise and local knowledge across national boundaries and deal with complex projects that call for innovative financial solutions while using the full range of financial tools: public and private sources of equity, bank and bond funding, export credit agency financing, and interest rate, currency and energy hedging.

About Rubicon Infrastructure Advisors:

With representation in Dublin, New York and Sydney, Rubicon Infrastructure Advisors is a full-service investment firm that provides investment banking services within the infrastructure sector.  The firm’s team comprises industry experts with extensive experience and who have advised or structured over €200 billion worth of infrastructure transactions across multiple sectors and jurisdictions.

Since being established just 4 years ago, Rubicon has assisted numerous clients in the acquisition, disposal or financing of over 50 individual assets covering multiple infrastructure and energy sectors located across the globe with a cumulative enterprise value in excess of €15 billion.