Rubicon Infrastructure Advisors have reached financial close on the procurement of debt for Cignal Infrastructure Limited.  

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, a provider of communications infrastructure towers and sites throughout Ireland,  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.

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