Global hyperlocal to hyperscale data center solutions provider, EdgeConneX, has announced that it has successfully secured a series of sustainability-linked financing totalling $1.7 Billion.
The financings include EdgeConneX first-ever securitisation and multi-currency term loan (“ESG Term Loan”) to further the company’s global growth, highlighting what it says is the company’s leadership and commitment to ESG as part of its core values and environmental stewardship.
The first Asset-Backed Securities (ABS) for EdgeConneX means a lower cost of capital, as well as allowing them to deploy greater data center capacity to meet their clients’ accelerating demands in new and existing markets.
“The investment-grade rating for the asset-backed securities demonstrates the financial strength of EdgeConneX and confirms the confidence and quality of the EdgeConneX edge business model,” said Joe Harar, CFO at EdgeConneX. “This new financing affords the company high flexibility to not only invest in our core infrastructure in a sustainability-minded way but also to support our high growth customers that need green, sustainability-linked solutions hyper-locally and at hyperscale globally.”
The international multi-currency term loan issuance forms an integral part of EdgeConneX sustainability strategy to fund the development of more energy-efficient data centers across the globe in new and existing markets, reducing carbon emissions, and providing green energy solutions to its customers. EdgeConneX says that its goal is to be a carbon-, waste- and water-neutral data center provider by 2030 and develop and operate a data center platform powered by 100 per cent renewable energy. The sustainability-linked financing, therefore, aims to further the company’s active role in promoting and practicing sustainability, reducing environmental impact across its global footprint, and optimising data center design, operations, and management.