Verne Global receives $100m loan

Verne Global, an Icelandic data center company, received a $100 million loan. This week, the board of directors of Digital 9 Infrastructure announced that the business had inked a new $100 million green term loan debt financing for Verne Global Iceland, along with a $50 million accordion provision. Natixis completely underwrite the syndicated loan, and matures in June 2028 with a fixed term of five years. The funds are a green loan obtained under the company's green financing framework, but the loan's ESG objectives were not disclosed. The fund will pay for the building and development of additional capacity in 2023, refinance Verne Global's current bridge loan agreement for $26 million, and reimburse $50 million of Verne Global's $62 million shareholder loan to D9.

Verne Global runs a 24MW data center facility near Keflavik, Iceland, providing colocation and high-performance computing services. D9 paid $320 million for Verne in 2021. In the same year, the company announced it would invest $50 million to add 10 MW to an expansion of 8 MW that was already planned. Since then, D9 has acquired and consolidated the data center companies Ficolo and Volta Data Centres into the Verne brand. According to reports, Verne has a five-year plan to increase the capacity of its data center facility from the present 40MW to over 96MW, requiring capital expenditures of $483,6 million.