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FII8 Day Three Ends with $70 Billion in Deals Announced

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RIYADH, Saudi Arabia, Nov. 2, 2024 /PRNewswire/ — The Future Investment Initiative (FII) Institute wrapped up Day 3 of its 8th annual gathering in Riyadh, with an “Investment Day” under the theme of “Infinite Horizons: Investing Today, Shaping Tomorrow.” Leaders, investors, and innovators explored avenues to drive impactful investment in emerging markets, venture capital, and sustainable growth strategies, setting the stage for the future of global finance and economic development.

Richard Attias, CEO of the FII Institute, commented on the day’s events: “Today’s discussions underscored the power of targeted investments to transcend traditional boundaries, creating opportunities in markets that promise to shape the next economic era. Our collective focus on deploying capital with long-term vision and sustainability will guide us as we navigate an ever-changing landscape.”

Standout Moments from FII8 Day 3:

1.         Opening Remarks by H.E. Faisal F. Alibrahim

H.E. Faisal F. Alibrahim, Minister of Economy & Planning for the Kingdom of Saudi Arabia opening remarks set the tone for the day, emphasizing the role of investment in Saudi Arabia’s economic transformation under Vision 2030, highlighting non-oil growth as pivotal for future diversification.

2.         Panel on Alternative Asset Growth in Emerging Markets

Key insights were shared during a session featuring H.E. Mohammed El-Kuwaiz, Chairman, Capital Market Authority (CMA); Rishi Kapoor, Vice Chairman & CIO, Investcorp; Chip Kaye, Chairman, Warburg Pincus LLC which focused on new frontiers in alternative asset growth. This panel explored trends driving investments in emerging economies, spotlighting regions set to lead the next growth phase.

3.         Capital Allocators Roundtable

A high-level discussion gathered influential leaders to discuss 2024’s projected impact for alternative assets and the diversification trends shaping institutional portfolios. The roundtable featured a diverse array of experts, including institutional investors, and thought leaders, all sharing insights on how alternative investments are becoming crucial in navigating economic uncertainties.

4.         Venture Capital Hotspots: Catalysts for Disruption

In this session, the panel explored the evolving landscape of innovation funding, with a particular emphasis on developments in burgeoning markets like Saudi Arabia.

5.         Health Humanity Initiative

In a global effort to secure a healthier future for all, FII Institute launched the Healthy Humanity Initiative inviting over 100 corporations, 10 health insurance companies insurers and governments from the Global South and North to join the movement to impact lives by providing free preventive health checkups for citizens every two years, waive up to 50% in health bills and ensure tax-free benefits. So far, this initiative has garnered support from Saudi Health in All Policies (HIAP), Claure Group, Moderna, Merck GCC, ⁠Ausmed Global, ⁠Qi Ming Venture Partners, ⁠Burjeel Holdings, SCAI, CURA, Genrait and Cleveland Clinic.

6.         Health Longevity Compass

The FII Institute presented findings from the Healthy Longevity Compass, which surveyed 22,600 respondents across 21 countries in partnership with The McKinsey Health Institute. The study revealed that 70% of individuals aspire to adopt healthier living habits, yet 43% in developing countries are dissatisfied with access to nutritious food. Read the Full Report Here.

7.         Investment Day

FII8 Investment Day launched a dynamic new chapter for the entrepreneurial ecosystem, transforming bold visions into actionable solutions that drive progress. At the inaugural global program hosted by FII Institute, five start-up companies showcased their cutting-edge tech solutions tackling world’s most pressing global challenges in artificial intelligence and robotics, sustainability, health and education. Among the innovators were: Oxccu, Sakuu, Beyond-Aero, Archireef and Bytelearn.

In the finale, Sakuu emerged as the winner and was crowned FII8 Innovator 2024. Each participating company received 2025 FII Institute complimentary membership and access to the FII Venture Program – powered by General Atlantic and Lakestar. This comprehensive support system is designed to accelerate their growth, offering unparalleled opportunities for market expansion, knowledge sharing and global visibility. Additionally, the innovative start-ups are eligible for a market expansion package providing over $10 million in financing grants and startup support. They may also benefit from soft landing program through NTDP (Saudi Arabia) and Hong Kong Science and Technology Park.

8.         Closing Remarks by H.H. Prince Faisal bin Farhan Al Saud, KSA Minister of Foreign Affairs. H.H. Prince Faisal emphasized the importance of global citizenship in addressing today’s pressing issues. He highlighted that collaboration across nations is vital for tackling conflicts, climate change, health crises, and economic disparities.

9.          Announcements: During the four days of the FII8 conference, over 30 plus announcements worth 70 billion dollars were made that focused on promoting sustainable development and innovative solutions for humanity. Additionally, strategic partnerships were established highlighting collaboration across various sectors, including technology, quality of life, and innovation.

As FII8 wrapped up, the narrative of a united front for positive change was clear. The collective voices of leaders and innovators echoed the sentiment that the future is not just a vision; it’s a movement we are all part of Day 3 at FII8 demonstrated the Institute’s commitment to connecting capital with impactful initiatives, further strengthening the global investment landscape. The FII Institute continues its mission of fostering sustainable and forward-looking investments that empower change across diverse geographies.

For media inquiries, please contact: media@fii-institute.org

About FII Institute

The Future Investment Initiative (FII) Institute is a global non-profit foundation driven by data with an investment arm and one agenda: Impact on Humanity. Global and inclusive, we foster great minds from around the world and turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare and Sustainability.

Photo – https://mma.prnewswire.com/media/2547387/FII8.jpg

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SOURCE Future Investment Initiative Institute

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Digital Edge publishes Green Finance Framework

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Leading Asia Pacific data center platform reinforces commitment to ESG goals

HONG KONG, Nov. 5, 2024 /PRNewswire/ — Digital Edge (Singapore) Holdings Pte. Ltd. (“Digital Edge”) has published its first Green Finance Framework (the “Framework”). The Framework sets out guidelines for securing green financing to fund data center projects that aim to deliver positive environmental outcomes and which are aligned with the company’s broader ESG goals, including Digital Edge’s target to be a carbon neutral platform by 2030.

The new Framework includes four eligibility criteria which must be met in order for a project to qualify for green financing, namely energy efficiency, renewable energy, green buildings and sustainable water and wastewater management. Each eligibility category has associated impact indicators to measure the impact of green finance proceeds.

For example, for energy efficiency the Framework uses Power Usage Effectiveness (PUE) to assess eligibility. Only new investments in data center projects that meet the minimum threshold of an annualized design PUE of 1.30 or lower in cool climates and 1.40 or lower in warm climates will qualify for green financing under the Framework. Digital Edge’s two most recent facilities launched in 2024, both have an annualized design PUE of 1.25 or lower.

Commenting on the Framework, Digital Edge’s CFO Jonathan Walbridge said, “The publication of green financing guidelines so early in our company’s evolution speaks to the importance of ESG commitments to our business. Against a backdrop of fast-moving technological advancements to support increasingly power-hungry AI deployments, this Framework is an important tool to help us align our financing activities with the pursuit of our sustainability agenda and ensure we can unlock cost efficient capital”.

To ensure accountability, the Framework also sets out methods to monitor, track and report outcomes, specifically through the company’s ESG Steering Committee and annual ESG Report.

Digital Edge’s Framework has received an opinion from Moody’s Ratings, achieving an SQS2 sustainability score (very good). The Framework is aligned with internationally recognized green finance standards, including the International Capital Market Association’s (ICMA) Green Bond Principles (GBP) 2021, and the Green Loan Principles (GLP) 2023 jointly published by the Loan Market Association, the Asia-Pacific Loan Market Association and the Loan Syndications & Trading Association. Crédit Agricole CIB and ING Bank N.V. (“ING”) acted as joint Green Structuring Coordinators and assisted on the development of the Framework.

Carmen Tsang, Head of Sustainable Investment Banking for Greater China at Crédit Agricole CIB, said, “We congratulate Digital Edge on the successful launch of its Green Finance Framework, which establishes a commendable benchmark for the sector. The framework reflects Digital Edge’s dedication to sustainable innovation, and highlights their vital role in developing greener digital infrastructure, supporting Asia’s decarbonization journey.”

Andrew Chew, Director for Sustainable Finance Asia Pacific at ING, commented, “Our partnership with Digital Edge highlights ING’s commitment to empowering data center companies as they venture into the green finance market. Establishing a green finance framework and navigating the SPO process can be complex. However, with the support of a trusted bank offering seasoned expertise, companies can navigate these challenges with confidence and clarity.”

Digital Edge secured its first ever green loan last year in connection with the development of its recently launched data center in Seoul, SEL2, with a KRW 440 billion green financing, representing the first ever green loan for a data center project in South Korea. The company has confirmed that this previous loan adheres to, and is compliant with, its new Green Finance Framework.

Read the Green Finance Framework here.

Read the Moody’s second party opinion here.

About Digital Edge

Headquartered in Singapore, Digital Edge is a trusted and forward-looking data center platform company, established to transform digital infrastructure in Asia. Through building and operating state-of-the-art, energy-efficient data centers rich with connectivity options, Digital Edge aims to bring new colocation and interconnect options to the Asian market, making infrastructure deployment in the region easy, efficient and economical.

Digital Edge was founded by a seasoned senior management team with decades of industry experience and an established track record of value creation in the data center, cloud and telecommunications industries in the Asia Pacific region. Backed by leading alternative investment firm Stonepeak, Digital Edge has in excess of US$1 billion in deployed and committed capital, establishing itself as a market-leading pan-Asia data center platform. The company provides data center and fiber services across Asia, with a presence in India, Indonesia, Japan, Korea, Philippines and China. You can visit the company’s website at www.digitaledgedc.com.

Media Contacts

Digital Edge

Liane Cresswell, Director Corporate Communications
Liane.Cresswell@digitaledgedc.com / +852 5503 2522

View original content:https://www.prnewswire.com/apac/news-releases/digital-edge-publishes-green-finance-framework-302296109.html

SOURCE Digital Edge

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Videotron Ltd. Prices Private Offering of US$700 Million Senior Notes due 2035

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MONTRÉAL, Nov. 4, 2024 /CNW/ – Videotron Ltd. (“Videotron”) today announced the pricing of its US$700 million aggregate principal amount of 5.700% Senior Notes due January 15, 2035 (the “Notes”) (this offering, the “Offering”). The Notes will be sold at US$999.40 per US$1,000 principal amount of Notes. Videotron intends to use the net proceeds of this Offering, together with drawings under its revolving credit facility, to fund the repayment in full of its tranche A term loan due October 2025 under its credit agreement, and for the redemption in full of Videotron’s 5.75% Senior Notes due 2026, pursuant to the terms of the indenture governing such notes.

The Offering is expected to close on or about November 8, 2024, subject to customary closing conditions.

The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933 or applicable state securities laws, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration. The Notes are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation. The Notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws.

This news release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

This announcement does not constitute a redemption notice in respect of any 5.75% Senior Notes due 2026 (the “2026 Notes”). Any redemption of the 2026 Notes will be made pursuant to a notice of redemption under the indenture governing such notes.

Videotron, a wholly owned subsidiary of Quebecor Media Inc., is an integrated communications company engaged in television, entertainment, Internet access, wireline telephone and mobile telephone services.

Forward‑Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of United States federal securities legislation (collectively, “forward-looking statements”). All statements other than statements of historical facts included in this press release, including statements regarding the prospects of our industry and our prospects, plans, financial position and business strategy, may constitute forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industries in which we operate as well as beliefs and assumptions made by our management. Such statements include, in particular, statements about our plans, prospects, financial position and business strategies. Words such as “may,” “will,” “expect,” “continue,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “believe,” or “seek,” or the negatives of these terms or variations of them or similar terminology, are intended to identify such forward-looking statements. Although we believe that the expectations reflected in those forward-looking statements are reasonable, these statements, by their nature, involve risks and uncertainties and are not guarantees of future performance. Such statements are also subject to assumptions concerning, among other things: our anticipated business strategies; anticipated trends in our business; anticipated reorganizations of any of our segments or businesses, and any related restructuring provisions or impairment charges; and our ability to continue to control costs. We can give no assurance that these estimates and expectations will prove to have been correct. Actual outcomes and results may, and often do, differ from what is expressed, implied or projected in such forward-looking statements, and such differences may be material. Some important factors that could cause actual results to differ materially from those expressed in these forward-looking statements include, but are not limited to: our ability to successfully continue developing our network and facilities-based mobile services; general economic, financial or market conditions and variations in our businesses; the intensity of competitive activity in the industries in which we operate; new technologies that might change consumer behaviour toward our product suite; unanticipated higher capital spending required to develop our network or to address the continued development of competitive alternative technologies, or the inability to obtain additional capital to continue the development of our business; our ability to implement successfully our business and operating strategies and manage our growth and expansion; risks relating to the acquisition of Freedom Mobile Inc. (“Freedom”), including our ability to successfully integrate Freedom’s operations and to realize synergies, and potential unknown liabilities or costs associated with the acquisition of Freedom; the anticipated benefits and effects of the acquisition of Freedom, which may not be realized in a timely manner or at all, and ongoing operating costs and capital expenditures, which could be different than anticipated, as well as unanticipated litigation or other regulatory proceedings associated with the acquisition of Freedom, which could result in changes to the parameters of the transaction; the impacts of the significant and recurring investments that will be required in our new Freedom, Videotron mobile virtual network operator and other markets for development and expansion and to compete effectively with the incumbent local exchange carriers and other current or potential competitors in these markets, including the fact that the post acquisition our business will continue to face the same risks that we currently face, but will also face increased risks relating to new geographies and markets; disruptions to the network through which we provide our digital television, Internet access, mobile and wireline telephony and over-the-top video services, and our ability to protect such services from piracy, unauthorized access or other security breaches; labour disputes or strikes; service interruptions resulting from equipment breakdown, network failure, the threat of natural disasters, epidemics, pandemics and other public health crises and political instability in some countries; the impact of emergency measures implemented by various levels of government; changes in our ability to obtain services and equipment critical to our operations; changes in laws and regulations, or in their interpretations, which could result, among other things, in the loss (or reduction in value) of our licenses or markets or in an increase in competition, compliance costs or capital expenditures; our substantial indebtedness, the tightening of credit markets, and the restrictions on our business imposed by the terms of our debt; and interest rate fluctuations that affect a portion of our interest payment requirements on long-term debt. We caution you that the above list of cautionary statements is not exhaustive. These and other factors could cause actual results to differ materially from our expectations expressed in the forward-looking statements included in this press release, and you are encouraged to read “Item 3. Key Information – Risk Factors” as well as statements located elsewhere in Videotron’s annual report on Form 20-F for the year ended December 31, 2023, and Videotron’s Quarterly Report under Form 6-K for the three- and six- month periods ended June 30, 2024, including Management’s Discussion and Analysis and unaudited interim condensed consolidated financial statements included therein for further details and descriptions of these and other factors. Each of these forward-looking statements speaks only as of the date of this press release. We will not update these statements unless applicable securities laws require us to do so.

SOURCE Videotron Ltd.

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Videotron Ltd. Announces Notice of Redemption for All of its 5.75% Senior Notes due January 15, 2026

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MONTRÉAL, Nov. 4, 2024 /CNW/ – Videotron Ltd. (“Videotron”) today announced that it has issued a notice of redemption for all of its outstanding 5.75% Senior Notes due January 15, 2026 (the “Notes”). A notice of redemption (the “Redemption Notice”) pursuant to the terms of the indenture governing the Notes (the “Indenture”) is being distributed by Computershare Trust Company of Canada. As set forth in the Redemption Notice, the redemption date is November 23, 2024, and the redemption price will be $1,000.00 per $1,000.00 principal amount of the Notes, plus accrued and unpaid interest to but excluding the redemption date.

Payment of the redemption price and surrender of the Notes for redemption will be made through the facilities of the CDS Clearing and Depository Services Inc. in accordance with the applicable procedures of the CDS Clearing and Depository Services Inc. on November 23, 2024 (or the immediately following business day).

This announcement does not constitute an offer to buy or the solicitation of an offer to buy or sell any securities in the United States or in any other jurisdiction. The securities mentioned herein have not been qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.

Videotron, a wholly owned subsidiary of Quebecor Media Inc., is an integrated communications company engaged in television, entertainment, Internet access, wireline telephone and mobile telephone services.

Forward–Looking Statements

Certain statements in this announcement are forward-looking statements based on current expectations. By their nature, forward-looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forward-looking statements. 

SOURCE Videotron Ltd.

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