EdgeCore secures $1.9 billion in green energy debt financing

US data center firm EdgeCore Digital Infrastructure recently raised $1.9 billion in a debt financing transaction to fund scalable development on its campus in Mesa, Arizona. This financing comprises a limited-recourse senior secured term loan, a revolving senior secured letter of credit facility, and an accordion feature that will fund future development.

This financing was led by a consortium of coordinating lead arrangers including MUFG, TD Securities, ING Capital LLC, Scotia Bank, and Santander. MUFG served as an administrative agent. Davis Polk Watson served as the borrower's/sponsor's counsel, and Milbank served as underwriters' counsel. Financing for the project was structured as a Green Loan, with ING Capital LLC as the sole Green Loan Structuring Agent.

Fentress Boyse, member of management, Private Infrastructure Americas, Partners Group said, "The construction financing for the Mesa campus is an important milestone for EdgeCore. This represents the first of many financings EdgeCore will pursue to support its ambitious capital plans and customers' needs. The broad participation and strong demand from the banking partners associated with this financing is a validation of EdgeCore's differentiated approach and bright future. This financing also represents the largest Green Loan by a Partners Group portfolio company to date."