EdgeCore Digital Infrastructure has completed a $440 million debt financing deal.
The wholesale developer, owner, and operator raised $1.9bn in debt financing in early January. Both deals were structured as Green Loans, with ING Capital LLC as the sole Green Loan Structuring Agent.
"Continuing the pace of rapid growth and development EdgeCore established in 2023, we leveraged the template set by our debt financing announced in January to quickly close the $440m transaction being reported today," said Julie Brewer, EdgeCore's EVP of finance.
"This funding will be put to immediate use in our Silicon Valley market to meet the critical capacity needs of hyperscale customers searching for single tenant data centers built to accommodate high-density space and power requirements."
EdgeCore broke ground on its Santa Clara campus in January 2023 and has since made "considerable progress" on the construction of the first data center and campus substation.
At full build-out, EdgeCore's campus will support 72MW of critical load across 540,000 square feet (50,200 sqm) of space. Utility power will be provided by Silicon Valley Power later this year, with the first data center supporting 36MW.
"Today's announcement of the sustainable construction financing secured for EdgeCore's Santa Clara campus follows the highly successful Green Loan template utilized to expand development of the company's Phoenix campus earlier this year," Fentress Boyse, manager at EdgeCore-owner Partners Group.
"The robust demand for the financing validates EdgeCore's execution capabilities, strong sponsorship, differentiated capital mobilization playbook, and bright future."
