Vantage Data Centers has taken a large loan facility to fund its data center build-out.

The company this week announced it has secured a $3 billion green loan from a bank syndicate to fund Vantage’s ongoing development of its North America data center platform.

The financing is a revolving credit facility with an initial collateral pool of eight leased and greenfield sites in both new and existing markets totaling nearly 1.4GW of IT capacity.

“For the past several years, Vantage has prioritized innovative funding avenues to support our rapid expansion, and this revolving multi-asset development financing is no exception,” said Christophe Strauven, senior vice president, capital markets at Vantage.

“We are dedicated to meeting our customers where they need us most. Our decision to pursue a flexible revolving credit facility allows us to access capital quickly and, therefore, begin development much earlier than project-specific loans, enabling Vantage to meet the ambitious timelines our customers require for critical IT capacity across North America.”

The syndicate was led by structuring bank Wells Fargo Securities, LLC, and joint bookrunners TD Securities, Truist Securities, Inc., and Scotiabank.

The company said it has the ability to add more North American assets to this credit facility in the future.

This new financing is Vantage’s fifth green loan in total.

Vantage recently secured a $64 million loan for its Taiwanese data center build-out; last year it secured a loan facility of up to $450m from GIP; and in 2022 it secured a $350m loan to develop a data center in California.