US data center firm DataBank has secured new financing to fund the build-out of three data centers in Dallas, Texas.

The company this week announced that it has secured a $2 billion loan for the construction of the first three data centers on its new Red Oak campus. DataBank said it was the company’s largest construction financing to date.

The loan will fund the build-out of the first three of eight planned data centers on the campus. The initial facilities (DFW9, DFW10, and DFW11) have already been leased and will total 600,000 square feet (55,741 sqm) of data center space and 180MW of capacity.

"This financing, combined with existing power commitments, accelerates DataBank's construction and delivery timelines for this campus by approximately 18 months," said Kevin Ooley, DataBank's president and CFO. "It ensures our customer will be able to bring critical capacity to market on time and further solidifies Dallas as a core metro for Internet and AI infrastructure."

The loan was issued under DataBank's Green Financing Framework, which mandates the facilities meet specific Power Usage Effectiveness (PUE) metrics and criteria for water conservation and carbon emissions reduction.

Founded in 2005, DataBank operates more than 65 data centers across the US in 25 metro markets.

DataBank announced plans for a new campus in Red Oak in September 2024. Set on 292 acres, the 480MW site can accommodate up to eight two-story facilities at full build-out, each spanning 425,000 sq ft (40,000 sqm).

Located along Stainback Road in Ellis County, the first phase will feature four buildings and a 400MW substation from Oncor, capable of delivering up to 240MW of critical IT power. Completion of the first phase is expected in Q2 2026.

The company has secured financing toting $4.7bn in the past year, including a $1.6bn credit facility expansion and extension, and a $1.1bn securitization