Private placement issuance has accelerated sharply in 2026, with the broader market raising over E70bn through May, creating a supportive backdrop for Europe’s capital intensive digital infra platforms. Whilst this remains a selective financing route, a number of oversubscribed issuances have been placed as part of multi-tranche capital structures, including GD Towers’ E2.5bn placement and PremiumFiber’s E2bn USPP. Heading into 2027, questions remain around which assets can support long-dated institutional notes and whether USPP will compete with ABS and direct infra debt. This panel will explore:

• Where do USPP, Euro PP, institutional club debt and Rule 144A differ? And what drives an issuer’s choice between them?
• Which assets and parts of the capital structure can support 15-25 year institutional debt?
• How important are public ratings, private letter ratings and NAIC designation? And could current regulatory scrutiny change investor appetite?
• How are bank and private placement debt being combined?
• What could be the trigger in 2027 – more datacentre transactions, tighter bank capacity, the refinancing wall or something else?