DigitalBridge Closes $400M Securitized Notes Refinancing, Extends Maturities
DBRG sits 75% above its 52-week low of $8.94.
Summary
DigitalBridge Group refinanced $400 million in securitized notes, including $300 million in term notes at 6.326% and a $100 million revolving facility, extending debt maturities.
Key Events · Financing and Capital Events · DBRG
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Securitized Notes Refinancing Closed
DigitalBridge Group, Inc. announced the closing of two securitized financing note issuances totaling $400 million through its subsidiaries, DigitalBridge Issuer, LLC and DigitalBridge Co-Issuer, LLC.
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Term Notes Issued
The company issued $300 million aggregate principal amount of Series 2026-1 6.326% Secured Fund Fee Revenue Notes, Class A-2, with an anticipated repayment date of June 2031.
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Variable Funding Notes Established
A Series 2026-1 Secured Fund Fee Revenue Variable Funding Notes, Class A-1, was issued, allowing the Co-Issuers to borrow up to $100 million on a revolving basis, with an anticipated repayment date of June 2029 (extendable by two one-year periods).
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Debt Repayment
Proceeds from the sale of the Class A-2 Notes were used to repay the outstanding Series 2021-1 securitization notes of the Co-Issuers, effectively refinancing existing debt.
Analysis · DBRG · Finance
DigitalBridge Group, Inc. has completed a significant $400 million securitized notes refinancing. This transaction, consisting of $300 million in 6.326% term notes and a $100 million variable funding facility, repays existing securitization notes and extends debt maturities. This move strengthens the company's balance sheet and provides financial flexibility, particularly relevant as the company approaches its pending acquisition by SoftBank Group Corp.
At the time of this filing, DBRG was trading at $15.65 on NYSE in the Finance sector, with a market capitalization of approximately $2.9B. The 52-week trading range was $8.94 to $15.68. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.