DC BLOX, a provider of interconnected data centers, announced it raised incremental equity capital from its existing and new investors, led by Post Road Group and Bain Capital Credit. This funding will advance the deployment of $1+ billion of total capital to finance future construction and the development of powered-land banking opportunities, reinforcing DC BLOX’s position as a hyperscale-ready data center platform.
DC BLOX also revealed it secured a $265 million green Senior Secured Credit Facilities loan (“SSCF”) from its Joint Lead Arrangers First Citizens Bank, ING Capital, and Nomura Securities International to develop multiple preleased hyperscale-driven edge sites and to invest in energy infrastructure for 216 MW of utility power in one of its recently contracted projects.
As part of the deal Bain Capital Credit and Post Road Group will convert their existing debt positions to equity in DC BLOX, as a testament to their conviction in the company’s growth trajectory.
In connection with the SSCF deal, Guggenheim Securities served as DC BLOX’s Sole Placement Agent, with First Citizens Bank, ING, and Nomura serving as Joint Lead Arrangers, First Citizens Bank serving as Administrative Agent, and ING serving as the Green Loan Structuring Agent.
KEY QUOTES:
“The financial support from our partners demonstrates confidence in our ability to satisfy the rapidly growing digital infrastructure needs of our customers. 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.”
-Jeff Uphues, CEO of DC BLOX
“The debt infusion and incremental equity commitment have positioned the company to achieve its ambitious development goals. We are grateful for the support from our partners at First Citizens Bank and ING, and Nomura’s creativity and speed of execution was greatly appreciated by the company.”
-Melih Ileri, SVP of Capital Markets and Strategy at 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 U.S. data center landscape with a unique combination of deep regional expertise and vertically integrated infrastructure development capabilities.”
-Michael Bogdan, Managing Partner at Post Road Group
“We are excited to continue our support of the DC BLOX team as they leverage their extensive expertise and strong local relationships to address the complex digital infrastructure needs of hyperscale and enterprise customers across the Southeast.”
-Brian Hirschfeld, Partner at Bain Capital
“We are pleased to support DC BLOX and its best-in-class management team on this milestone transaction by leveraging our deep data center lending expertise.”
-Jeremy Wolfe, a Managing Director who led the First Citizens banking team on the transaction
“The green loan for DC BLOX underscores our commitment to supporting energy-efficient data centers, a critical step in reducing the environmental impact of digital infrastructure. By financing such energy-efficient assets, we’re helping drive innovation and meaningful progress toward a low-carbon future.”
-Cindy Jia, ING Head of Sustainable Finance, Americas
“Nomura is excited to partner with DC BLOX and leverage our intellectual and financial capital to provide this innovative financing solution to enable them to scale up their portfolio of data centers. This facility strengthens DC BLOX’s liquidity position, and we look forward to continuing to support the team’s continued growth in the digital infrastructure sector.”
-Vinod Mukani, Global Head of Nomura’s Infrastructure & Power business
