DataBank, a provider of enterprise-class edge colocation, interconnection and managed cloud services, secured another $350 million in financing to fund the ongoing expansion of its edge data center footprint.
Led by TD Securities, the $350 million credit facility includes a $175 million, five-year term loan, a $125 million delayed draw term loan (DDTL) which is undrawn at close, and a $50 million revolving credit line. Collectively, the financing will be used for general working capital and success-based capex expenditures related to the company’s deployment of new and expanded data center capacity at its campuses in Salt Lake City, Denver, Atlanta and New York.
“This additional financing allows DataBank to fully implement its aggressive expansion roadmap,” Kevin Ooley, president and CFO of DataBank, said. “Our ability to swiftly complete this transaction reflects both investors’ confidence in our edge strategy as well as DataBank’s proven ability to execute on its business plans.”
This is DataBank’s second successful financing this year, coming just weeks after its $715 million securitization on March 1, 2023. In 2021, DataBank completed two securitizations worth nearly $1 billion, including the first ever securitization for a multi-tenant, enterprise data center provider, and in 2022, it completed a $1.9 billion recapitalization led by SwissLife Asset Management.
