Aligned Data Centers has announced that it has increased its sustainability-linked loan from $375 million to $1.75 billion to accelerate its next phase of strategic growth and expansion.
The facility consists of a $500 million 12-month delayed-draw term loan, a $750 million 24-month delayed-draw term loan, and a $500 million revolving credit facility. TD Securities, Wells Fargo Securities, and Citizens Bank, N.A. acted as joint book-runners and joint lead arrangers for the facility. Aligned engaged ING Capital LLC as sustainability structuring agent and TD Securities as sustainability and administrative agent, and more than 20 banks supported the Company on the transaction.
“Aligned’s latest increase to its sustainability-linked financing is a testament not only to the recognition of our relationship banks and financial institutions of the precipitous demand for digital infrastructure and services but also of the singular demand for Aligned’s adaptive data centre platform, which provides a sustainable and dynamic solution to the needs of high-growth, high-capacity customers,” states Anubhav Raj, CFO, Aligned.
“Green financing is an embedded element of Aligned’s industry-leading commitment to data centre sustainability and environmental stewardship, and further supports our ability to innovate disruptively in pursuit of a climate-secure industry, and world.”
Aligned’s sustainable finance initiatives provide the capacity to support the continuing growth of its data centre portfolio. This growth includes expanding its data center developments in Ashburn, Chicago, Phoenix, and Salt Lake City, and acquiring land in other key U.S. and international regions for new builds and data centre deployments. This latest increase to Aligned’s sustainability-linked loan follows several major milestones in the Company’s record of historic green financing, including the first-ever green, and largest-ever inaugural, data centre securitisation, and the first-ever U.S. data centre sustainability-linked financing.
“Our sophisticated customers require highly dynamic and massively scalable data centre solutions that can be delivered at speed, anywhere their business growth demands, while simultaneously bolstering their environmental commitments and paths to net-zero carbon,” says Andrew Schaap, CEO of Aligned.
“We are deeply gratified that leading financial institutions continue to support our objective to be the data centre industry’s leading change agent for sustainability by providing access to, and increasing, our sustainability-linked financing to deliver on that mission.”
