SEB Bank provides DEAC and DLC a $33 million loan

The DEAC of Latvia and the Data Logistics Center (DLC) of Lithuania have received a $33.4 million loan to finance the expansion of their respective data centers. The two companies announced this week that they had secured a 10-year loan from SEB Bank to expand Baltic telecommunications systems with a focus on data facilities and fiber-optic networks.

According to a May 2022 statement from DEAC, the funds will be used to build a 10 MW facility in Riga with room for 1,000 racks. Construction is expected to be completed by the end of the fourth quarter of 2024. Both entities are a part of Baltic Rezo, owned by Quaero European Infrastructure Fund II (QEIF II) and managed by Quaero Capital. DEAC, which was founded in 1999, possesses a 2.3MW data center and a 0.4MW site in Riga, as well as a 4MW facility with 400 racks under construction in Vilnius. Quaero acquired DEAC in 2020.

Duomen Logistikos Centras (also known as Data Logistics Center) was founded in 2015 and has six facilities across Lithuania, including two in the capital city of Vilnius and a 1,200-mile fiber network. Ignitis Group previously owned DLC; the company had planned to sell DLC to Telia Lietuva in 2018, but the transaction fell through. In 2020, Quaero then acquired DLC.