Rowan Secures $1.2bn for Maryland Data Center Campus

Rowan Digital Infrastructure this week announced it closed a further $1.24 billion of construction financing to build the second phase of its flagship hyperscale data center campus at TPG's Quantum Frederick site in Maryland.

The financing was led by Sumitomo Mitsui Banking Corporation (SMBC) and MUFG Bank, Ltd. (MUFG) as co-structuring agents. SMBC, MUFG, Mizuho, and TD Securities served as coordinating lead arrangers and joint bookrunners. Fourteen lenders took part in the financing, with additional banks expected to join through a secondary syndication in March.

Kevin Mammel, Rowan’s chief financial officer said: “Repeat participation from our existing financing partners, including the lead banks from the phase one financing, underscores their confidence in Rowan’s vision, execution, and ability to deliver at scale. The addition of four new lending relationships also reflects the growing appeal of our platform. As our development pipeline surpasses 2,500MW, deepening these trusted relationships is critical to ensuring we can continue delivering sustainable, energy-efficient data centers that meet the timing demands of our hyperscale customers.”