Guided by its Green Finance Framework, company secures financing led by Wells Fargo to fund at least eight new and existing data center sites
April 23, 2024 08:30 AM Eastern Daylight Time
DENVER–(BUSINESS WIRE)–Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced it has secured a $3 billion green loan from a bank syndicate led by structuring bank Wells Fargo Securities, LLC and joint bookrunners TD Securities, Truist Securities, Inc. and Scotiabank to fund the ongoing development of its North America data center platform.
“For the past several years, Vantage has prioritized innovative funding avenues to support our rapid expansion, and this revolving multi-asset development financing is no exception”Post this
The financing is a revolving credit facility with an initial collateral pool of eight leased and greenfield sites in both new and existing markets totaling nearly 1.4GW of IT capacity. Compared to typical project-specific construction loans, this model enables faster time-to-market for Vantage and its customers. Additionally, the loan affords Vantage the ability to add more North American assets to this credit facility in the future. Currently, Vantage’s North America platform includes 12 campuses across the United States and Canada.
“For the past several years, Vantage has prioritized innovative funding avenues to support our rapid expansion, and this revolving multi-asset development financing is no exception,” said Christophe Strauven, senior vice president, capital markets at Vantage. “We are dedicated to meeting our customers where they need us most. Our decision to pursue a flexible revolving credit facility allows us to access capital quickly and, therefore, begin development much earlier than project-specific loans, enabling Vantage to meet the ambitious timelines our customers require for critical IT capacity across North America.”
“Vantage would like to express our gratitude to our financing partners and the strategic long-term relationships we have with them,” said Sharif Metwalli, chief financial officer at Vantage. “We appreciate their backing, which underpins our ability to develop the digital infrastructure to support the next generation of technology, from cloud transformation to artificial intelligence (AI).”
This new financing, Vantage’s fifth green loan, was secured under the company’s Green Finance Framework and upholds its holistic approach to environmental, social and governance (ESG) principles. Dedicated to the sustainable development, delivery and operation of its data center facilities, Vantage leverages its green loans to support the research and development of next generation sustainable features in areas such as energy efficiency, water management and pollution prevention and works to operate in alignment with its own and customers’ carbon reduction goals.
So far this year, Vantage has announced a total of nearly $10 billion in financing to drive the company’s continuing global growth. In addition to today’s announcement, the company also announced a $6.4 billion equity investment led by DigitalBridge and Silver Lake in January, followed by a $64 million loan to support the development of Vantage’s first campus in Taiwan in March.
To learn more about the company’s expanding global portfolio, visit https://vantage-dc.com/data-center-locations/.
About Vantage Data Centers
Vantage Data Centers powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands.
For more information, visit https://www.vantage-dc.com.
Contacts
Mark Freeman
Vantage Data Centers
[email protected]
+1-202-680-4243
Robin Bectel
REQ for Vantage Data Centers
[email protected]
+1-202-936-6335