AtlasEdge announces milestone €725 million finance facility
25.4.2023 14:42:00 EEST | Business Wire | Press release
AtlasEdge, a leading pan-European Edge data centre provider, today announces that it has secured a scalable €725 million facility underwritten by mandated lead arranger ING Bank, as well as ABN Amro, Crédit Agricole CIB, The Bank of Nova Scotia, National Westminster Bank Plc, Banco Santander and UniCredit Bank AG.
The financing package consists of €525 million in committed debt financing and a further €200 million uncommitted accordion. The accordion feature enables AtlasEdge to target capital toward customer-led growth projects and expand the facility based on future demand.
Having already underpinned the company’s recent acquisition of Datacenter One, Germany’s leading independent data centre provider, the new facility provides AtlasEdge with considerable firepower to execute further strategic M&A and build new efficient and sustainable sites throughout Europe’s key markets.
The financing also includes sustainability-linked targets focussed on efficiency and renewable energy usage. This aligns AtlasEdge’s mission to build a truly sustainable digital society with the shared importance of sustainable investment by the lending group.
“We are delighted to have partnered with a group of top-tier financial institutions whose ambition matches our own and are willing to continue to support us in the future”, commented Ron Huisman, CFO, AtlasEdge. “This is a bespoke and highly sought-after facility with in-built flexibility that allows us to move rapidly to realise new growth opportunities."
Giuliano Di Vitantonio, CEO, AtlasEdge, added, “We are pleased to have closed our inaugural large-scale debt financing, which will enable us to continue to meet surging customer demand for digital infrastructure closer to the end user. The backing of ING and the wider syndicate represents a strong endorsement of the AtlasEdge mission to build a pan-European Edge data centre platform.”
Sicco Boomsma, Managing Director within ING’s TMT sector financing team said, “Borrowers are reminded that, at a time where the real estate and leveraged-loan markets have become more challenging, there is still significant liquidity available from infrastructure-focused lenders. ING’s sector expertise and broad European network was critical in structuring, underwriting, and executing this innovative, multi-jurisdictional financing. The multi-asset infrastructure financing provides significant flexibility to the underlying pool of Edge assets. ING’s appetite for the data centre sector remains strong and we are proud to support AtlasEdge’s European Edge data centre expansion plans”.
Advisors
- Ropes & Gray LLP served as legal advisers to AtlasEdge.
- CMS Cameron McKenna Nabarro Olswang LLP served as legal due diligence advisor to the Lenders
- Analysys Mason served as commercial due diligence advisor to the Lenders
- Royal HaskoningDHV served as technical due diligence advisor to the Lenders
- EY served as financial model auditor to the Lenders
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005675/en/
Contact information
AtlasEdge Corporate Communications:
Duncan White | duncan.white@atlasedge.com | +44 7970 974832
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