US data center operator DC Blox has secured new equity investment and a green loan.

The company this week announced it has raised incremental equity capital from its existing and new investors, led by Post Road Group and Bain Capital Credit.

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DC Blox secures new investment – DC Blox

The funding will enable the deployment of more than $1 billion of total capital to finance future construction and the development of powered-land banking opportunities.

“The financial support from our partners demonstrates confidence in our ability to satisfy the rapidly growing digital infrastructure needs of our customers,” said Jeff Uphues, CEO of DC Blox. “From our Edge market data centers, Myrtle Beach cable landing station, regional fiber network, and multiple 150MW+ hyperscale campuses, DC Blox is building the digital infrastructure needed to drive future economic growth across the Southeast.”

DC Blox operates facilities across Atlanta, Georgia; Birmingham and Huntsville, Alabama; and Chattanooga, Tennessee, as well as a cable landing station in Myrtle Beach, South Carolina. It has more in development across Richmond, Virginia, and Atlanta, Georgia, as well as both North and South Carolina.

As part of the transaction Bain Capital Credit and Post Road Group will convert their existing debt positions to equity in DC Blox.

Bain owns Chinese operator ChinData and APAC data center subsidiary Bridge Data Centres. Post Road Group has previously loaned money to Green House Data (since renamed Lunavi), and New Continuum Data Centers (acquired by SBA in 2019). Bain and Post Road also own fiber firm Surf Internet.

“As DC Blox addresses the significant digital infrastructure growth opportunities by building and operating new hyperscale facilities, it remains a preeminent leader in the Southeastern US data center landscape with a unique combination of deep regional expertise and vertically integrated infrastructure development capabilities,” said Michael Bogdan, Managing Partner at Post Road Group.

DC Blox has also secured a $265 million green Senior Secured Credit Facilities loan from its Joint Lead Arrangers First Citizens Bank, ING Capital, and Nomura Securities International, Inc. The loan will be used to develop multiple pre-leased hyperscale-driven Edge sites, and to invest in energy infrastructure for 216MW of utility power in one of its recently contracted projects – likely the Atlanta East site in Georgia.

"The green loan for DC Blox underscores our commitment to supporting energy-efficient data centers, a critical step in reducing the environmental impact of digital infrastructure. By financing such energy-efficient assets, we’re helping drive innovation and meaningful progress toward a low-carbon future,” said Cindy Jia, ING head of sustainable finance, Americas.

Guggenheim Securities served as Sole Placement Agent to DC Blox for the green loan, with First Citizens Bank, ING, and Nomura serving as Joint Lead Arrangers, First Citizens Bank serving as Administrative Agent, and ING serving as the Green Loan Structuring Agent.