Hyperscale data center provider Vantage Data Centers said it has secured a USD 3 billion green loan to fund the ongoing development of its North America data center platform. The loan, from a bank syndicate led by structuring bank Wells Fargo and joint bookrunners TD Securities, Truist Securities, and Scotiabank, is a revolving credit facility with an initial collateral pool of eight leased and greenfield sites in both new and existing markets totalling nearly 1.4 GW of IT capacity, Vantage said on Tuesday.
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Green Financing for Sustainable Growth
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.
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"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 Vantage DC.
"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."
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Flexibility Fuels Expansion
This new financing is Vantage's fifth green loan and was secured under the company's Green Finance Framework to fund at least eight new and existing data center sites.
Vantage recently secured a USD 6.4 billion equity investment led by DigitalBridge and Silver Lake in January, followed by a USD 64 million loan to support the development of Vantage's first campus in Taiwan in March, TelecomTalk reported.
So far this year, Vantage has announced a total of nearly USD 10 billion in financing to drive the company’s global growth, the company said.
