US operator Aligned Data Centers has secured new financing to support its data center build-out.

The company this week today announced the closing of a new $2.58 billion credit facility to support the continued expansion of its US data center portfolio.

Supported by insurance, pension fund, and other institutional capital, the new revolving credit facility (devco facility) is secured by an initial collateral pool of six assets within Aligned’s US portfolio.

The facility features an initial term of three years, with two one-year extension options. Aligned said it intends to increase this facility’s borrowing capacity in the future to support its delivery plans.

“This innovative devco facility unlocks substantial additional borrowing capacity, serving as a powerful catalyst to drive Aligned’s continued growth,” said Meghan Baivier, Aligned Data Centers' CFO. “At Aligned, we are deeply focused on cultivating strong partnerships that are enduring in nature. We are incredibly excited to continue our relationship with the institutional lending community as we look to grow in the future. This structure represents a completely new tool in our toolkit, giving us enhanced flexibility as we scale our operations to meet growing customer demand.”

Aligned has campuses in Chicago, Illinois; Dallas, Texas; Salt Lake City, Utah; Phoenix, Arizona; and Northern Virginia. The company has further sites in development in Maryland, Ohio, Illinois, Pennsylvania, and Virginia.

Outside of the US, Aligned acquired LATAM-based OData in May 2023 and has a footprint in Brazil, Chile, Colombia, and Mexico. It has also invested in Canadian firm QScale.

Macquarie Asset Management sold Aligned to a consortium comprising the AI Infrastructure Partnership (AIP), MGX, and BlackRock-owned Global Infrastructure Partners (GIP) last year for $40bn.

Aligned has previously secured a $1 billion credit facility from Blackstone. BXCI previously loaned Aligned $600 million in March 2024 to fund the build-out of its data center campus in Utah.