May 01, 2023 | Posted by MadalineDunn
AtlasEdge has announced that it has secured a new €725 million ($800m) sustainability-linked credit facility, which will be tied to targets focused on efficiency and renewable energy usage. According to the company, the financing package consists of €525 million in committed debt financing and an additional €200 million uncommitted accordion.
The credit facility is underwritten by mandated lead arranger ING Bank, ABN Amro, Crédit Agricole CIB, The Bank of Nova Scotia, National Westminster Bank Plc, Banco Santander, and UniCredit Bank AG.
Ron Huisman, CFO of AtlasEdge, shared that the company is "delighted" to have partnered with a group of "top-tier financial institutions" with similar ambitions: "This is a bespoke and highly sought-after facility with in-built flexibility that allows us to move rapidly to realize new growth opportunities."
AtlasEdge CEO Giuliano Di Vitantonio commented: "We are pleased to have closed our inaugural large-scale debt financing, which will enable us to continue to meet surging customer demand for digital infrastructure closer to the end user. The backing of ING and the wider syndicate represents a strong endorsement of the AtlasEdge mission to build a pan-European Edge data center platform."
Meanwhile, Sicco Boomsma, managing director within ING's TMT sector financing team, said that the deal reminds borrowers that at a time when the real estate and leveraged-loan markets have become "more challenging," there is still significant liquidity available from infrastructure-focused lenders. "ING's sector expertise and broad European network was critical in structuring, underwriting, and executing this innovative, multi-jurisdictional financing," he said.
Adding: "The multi-asset infrastructure financing provides significant flexibility to the underlying pool of Edge assets. ING's appetite for the data center sector remains strong and we are proud to support AtlasEdge's European Edge data center expansion plans."
This sustainability-linked credit facility aligns with the company's sustainability goals as a Climate Neutral Data Center Pact signatory.
