Vantage Data Centers, a leading global provider of hyper-scale data center campuses, announced it had secured a $3 billion green loan from a bank syndicate led by structuring bank Wells Fargo Securities and joint book-runners TD Securities, Trust Securities, and Scotiabank to fund the ongoing development of its North America data center platform.
This financing is a revolving credit facility with an initial collateral pool of eight leased and greenfield sites in new and existing markets, totaling nearly 1.4 GW of IT capacity. Compared to typical project-specific construction loans, this model drives faster time-to-market for Vantage and its customers. Plus, the loan affords Vantage the ability to add more North American assets to this credit facility in the future. Currently, Vantage’s North American platform includes 12 campuses across the US and Canada.
This new financing (Vantage’s fifth green loan) was secured via the company’s Green Finance Framework and upheld its holistic approach to environmental, social, and governance (ESG) principles. With a focus on sustainable development, delivery, and operation of its data center facilities, Vantage utilizes its green loans to support the research and development of next-generation sustainable features in areas like energy efficiency, water management, and pollution prevention. It works to align with its own and customers’ carbon reduction goals.
So far this year, Vantage has announced nearly $10 billion in financing to drive the company’s continuing global growth. In January, the company also announced a $6.4 billion equity investment led by DigitalBridge and Silver Lake, followed by a $64 million loan to support the development of Vantage’s first campus in Taiwan in March.
KEY QUOTES:
“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. 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.”
– Christophe Strauven, senior vice president, capital markets at Vantage
“Vantage would like to express our gratitude to our financing partners and the strategic long-term relationships we have with them. 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).”
– Sharif Metwalli, chief financial officer at Vantage
