Wildstone, which owns outdoor media infrastructure across the UK and Europe, has completed a £350m infrastructure refinancing with Deutsche Bank as underwriter.

The transaction will enable Wildstone to both refinance its existing debt and fund its next stage of growth across the UK and Europe.

Wildstone also revealed that the deal marks the first infrastructure debt raised in the out-of-home (OOH) sector and is the first widely syndicated financing for the company.

Since 2010, Wildstone has established itself as a leader in OOH infrastructure by developing a portfolio of over 5,000 OOH assets across the UK, Ireland, Spain, Netherlands, and Germany. The new debt facility will enable Wildstone to further scale its portfolio in European markets and explore strategic opportunities to expand its global reach.

In 2023, digital OOH was forecast to grow faster than any other advertising channel, and at four times the rate of the paper OOH market.

The new flexible debt facility – which saw MEAG, Lloyds, Natixis and M&G all acts as mandated lead arrangers – will also allow Wildstone to digitally enhance its existing sites and invest in other capital upgrades across its portfolio.

CEO and founder of Wildstone, Damian Cox, commented: “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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