DC Blox Secures Equity Funding and Green Loan for Data Center Expansion

DC Blox Secures Equity Funding and Green Loan for Data Center Expansion
US data center operator DC Blox has secured new equity investment and a green loan. This week, the company announced that it raised additional equity capital from both existing and new investors, led by Post Road Group and Bain Capital Credit. The funding will support the deployment of over USD 1 billion in total capital to finance future construction and the development of powered land banking opportunities.

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Also Read: DC BLOX Expands Birmingham Data Center for High-Performance Computing

DC Blox Raises New Investment

“The financial support from our partners demonstrates confidence in our ability to satisfy the rapidly growing digital infrastructure needs of our customers,” said Jeff Uphues, CEO of DC Blox. “From our edge market data centers, Myrtle Beach cable landing station, regional fiber network, and multiple 150MW+ hyperscale campuses, DC Blox is building the digital infrastructure needed to drive future economic growth across the Southeast.”

Debt Conversion

As part of the transaction, Bain Capital Credit and Post Road Group will convert their existing debt positions into equity in DC Blox.

“As DC Blox addresses the significant digital infrastructure growth opportunities by building and operating new hyperscale facilities, it remains a preeminent leader in the Southeastern US data center landscape with a unique combination of deep regional expertise and vertically integrated infrastructure development capabilities,” said Michael Bogdan, Managing Partner at Post Road Group.

Also Read: DC BLOX Completes Dark Fiber Route Linking Myrtle Beach to Atlanta

Green Loan for Energy-Efficient Data Centers

DC Blox has also secured a USD 265 million green Senior Secured Credit Facilities loan (SSCF) from its Joint Lead Arrangers: First Citizens Bank, ING Capital, and Nomura Securities International. According to the company, the loan will fund the development of multiple pre-leased, hyperscale-driven Edge sites and energy infrastructure for 216MW of utility power in one of its recently contracted projects.