Rowan Digital Infrastructure, a sustainable hyperscale data center developer and portfolio company of Quinbrook Infrastructure Partners, announced it closed a further $1.24 billion of construction financing to build the second phase of a flagship hyperscale data center campus in Maryland.
This deal builds on the $975 million of financing for the first phase of the project, bringing total debt raised for the campus to $2.2 billion.
The financing was led by Sumitomo Mitsui Banking Corporation (SMBC) and MUFG Bank as co-structuring agents. SMBC, MUFG, Mizuho, and TD Securities served as coordinating lead arrangers and joint bookrunners. And 14 lenders took part in the financing, with additional banks expected to join through a secondary syndication in March.
KEY QUOTES:
“Rowan is grateful for our lenders’ continued support for phase two of our flagship campus. Repeat participation from our existing financing partners, including the lead banks from the phase one financing, underscores their confidence in Rowan’s vision, execution, and ability to deliver at scale. The addition of four new lending relationships also reflects the growing appeal of our platform. As our development pipeline surpasses 2,500 MW, deepening these trusted relationships is critical to ensuring we can continue delivering sustainable, energy-efficient data centers that meet the timing demands of our hyperscale customers.”
– Kevin Mammel, Rowan’s chief financial officer
“We’re thrilled to build on our momentum and expand our data center footprint with the support of this latest financing. We’ve already achieved tremendous progress and are seeing heightened interest from hyperscale customers who rely on robust, scalable facilities to power their global operations. Our development pipeline is growing rapidly as we head into 2025, and we look forward to bringing these new projects to market to meet the evolving needs of our clients. This next phase of growth underlines our commitment to delivering best-in-class solutions—now and for years to come.”
– Charley Daitch, CEO of Rowan Digital Infrastructure
