Pure Data Centres Group has secured a $780 million platform growth facility that can expand to about $1.9 billion. The London-based operator announced the financing on November 4, pairing the initial $780 million with a $1.1 billion accordion that allows it to r
Featured: Exterior photograph of Pure DC's operational Yas Island hyperscale campus in Abu Dhabi, illustrating its Middle East portfolio.aise more capital as its pipeline advances.
Citigroup Global Markets, First Abu Dhabi Bank and Infranity joined the facility as lenders for the first time. ABN AMRO, Allianz Global Investors and SMBC remain in the lender group. Pure Data Centres Group develops, owns and operates the data centers, the banks provide the debt, and funds managed by Oaktree Capital Management back the company.
Data Center Dynamics reported that the financing takes the total Pure Data Centres Group has announced in the past 12 months to more than $6.2 billion. The company says the facility will fund its development pipeline and the acquisition of future sites across Europe and the Middle East.
The new facility follows $2.7 billion announced in May. That package included a $2.15 billion facility secured against Pure DC's Dublin and Amsterdam campuses and an increase in corporate-level financing to $550 million. In July the company closed €1.3 billion, about $1.46 billion, of committed senior debt for Phase 1 of its Seinäjoki AI campus in Finland, a financing Baxtel reported.
"Power is the biggest constraint on cloud and AI growth," said Gary Wojtaszek, executive chairman and interim chief executive of Pure DC. "We secure the power first, then bring in the teams that develop, build and operate the capacity our customers need."
Data Centre Magazine reported that Pure DC plans to use secured power sites for large-scale AI training campuses and smaller inference data centers alongside its existing hyperscale cloud facilities. Mike Schwartz, Pure DC's chief financial officer, said the facility strengthens the company's corporate funding base and complements financing arranged for individual campuses.
Pure DC has more than 500 MW of IT capacity in operation or development across Europe, Asia and the Middle East. Baxtel tracks 26 data center sites for Pure Data Centres Group, including four operational facilities.
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