Aligned has increased its line of credit to $575m so it can meet demands to expand its infrastructure.
New lenders, including ING Capital, Shinhan Bank New York Branch and TD Securities have joined existing financial backers which include Macquarie Infrastructure Partners, BlueMountain Capital Management and Goldman Sachs Bank.
Building to scale
The increased sum of money comes off the back of another facility raised back in October, when Aligned secured a $495m credit facility from its investors. Aligned says the facility provides Aligned with flexible, lower-cost capital to support its growth and plans for the money included funding the expansion of its data center portfolio and the delivery of adaptable colocation and hyperscale solutions in Dallas, Phoenix, and Salt Lake City.
Aligned’s most recent projects include the completion of phase one of its hyperscale campus in Ashburn Virginia, which CEO Andrew Schaap told DCD is “among the fastest building permit-to-commissioning construction projects in the history of Ashburn's critical infrastructure.” The campus is now having a 120MW expansion.
Aligned is also adding 8MW of its Dallas data center.
In his DCD interview, Schaap said describes Aligned's finances as “sophisticated” capital, with investors that “understand infrastructure, and have committed to supporting the company’s growth.”