UK data center firm Ark Data Centres has secured a £700 million ($902m) loan.
First reported by Capacity, the funds will reportedly be used to partially cover the expansion of its campuses and refinance the existing credit facility closed in 2019.
The loan, structured by ING, saw NordLB, ABN Amro, Lloyds, Crédit Agricole CIB and HCOB acted as Mandated Lead Arrangers; Sabadell, NIBC, and HSBC acted as Lead arrangers, with Investec as arranger. Ark said the book was heavily oversubscribed, with interest from existing lenders, new banks, and institutional investors.
Sicco Boomsma, managing director within ING’s TMT sector financing team, said: “This is one of the largest sustainability-linked loans ever done for a UK data center operator, another important milestone for the company and reflective of the way Ark has been positioning itself in the market as a leading sustainable data center operator”.
Established in 2005, Ark serves a number of UK government departments and agencies, and also has a joint venture with the Cabinet Office called Crown Hosting to provide colocation services to public sector bodies and government departments.
Tina Pristovsek, director within the EMEA real estate structured finance team at Bank of America, added: “The transaction showcases Bank of America’s leading capabilities in the real estate structured finance field illustrating innovative ways we can support sustainable growth and investment plans of Ark, one of the UK’s pre-eminent data center operators”.
The company recently filed for planning permission to build another data center building at its Corsham campus in Wiltshire. It also has facilities in Farnborough, Hayes, Chertsey, and London.