European outdoor media infrastructure company Wildstone has secured £350m (€407m) in financing, the first infrastructure debt raised in the out-of-home (OOH) advertising sector.
The outdoor media firm has said it has completed the refinancing with Deutsche Bank as an underwriter with MEAG, Lloyds, Natixis and M&G as mandated lead arrangers.
Established in 2010, Wildstone has a portfolio of over 5,000 OOH media assets including digital 48-sheet screens, traditional paper and paste billboards, and super-premium digital sites across the UK, Ireland, Spain, the Netherlands and Germany.
The loan will enable Wildstone to refinance its existing debt and further scale its portfolio in European markets and explore strategic opportunities to expand its global reach, the company said.
Damian Cox, CEO and founder of Wildstone, said: “Completing a refinancing of this magnitude in today’s market is testament to the quality of our estate, our people and most importantly our partner tenants.
“This industry-first debt facility will enable us to further expand our portfolio across Europe, aggressively scale our industry-transforming digitisation efforts and increase our operational flexibility.”
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