London-based AtlasEdge, a pan-European Edge data centre provider, announced on Tuesday, April 25, that it has raised a scalable €725M finance facility.
The funding package includes €525M in debt financing and €200M in uncommitted accordion.
AtlasEdge says it will direct the funds towards customer-driven expansion projects and extend the facility based on demand by using the accordion function.
Investors in this financing
The finance facility was underwritten by mandated lead arranger ING Bank, as well as ABN Amro, Crédit Agricole CIB, The Bank of Nova Scotia, National Westminster Bank Plc, Banco Santander, and UniCredit Bank AG.
Sicco Boomsma, MD within ING’s TMT sector financing team, says, “Borrowers are reminded that, at a time where the real estate and leveraged-loan markets have become more challenging, there is still significant liquidity available from infrastructure-focused lenders.”
“ING’s sector expertise and broad European network was critical in structuring, underwriting, and executing this innovative, multi-jurisdictional financing. The multi-asset infrastructure financing provides significant flexibility to the underlying pool of Edge assets.”
“ING’s appetite for the data centre sector remains strong and we are proud to support AtlasEdge’s European Edge data centre expansion plans,” adds Boomsma.
Capital utilisation
After recently acquiring Germany-based Datacenter One, the fresh funds will give AtlasEdge firepower to carry out additional strategic M&A and build new effective and sustainable sites throughout Europe’s key markets.
Besides efficiency and renewable energy use goals, the funds will also include sustainability-related targets.
Giuliano Di Vitantonio, CEO of AtlasEdge, says, “We are pleased to have closed our inaugural large-scale debt financing, which will enable us to continue to meet surging customer demand for digital infrastructure closer to the end user.”
“The backing of ING and the wider syndicate represents a strong endorsement of the AtlasEdge mission to build a pan-European Edge data centre platform.”
About AtlasEdge
AtlasEdge is a European Edge data centre platform that is operational in 12 countries.
It was founded by a collaboration between Liberty Global, a leader in converged broadband, video, and mobile communications and an active investor in infrastructure, content, and technology ventures, and DigitalBridge, an investment firm focused on digital infrastructure.
The firm’s dispersed data centre portfolio provides access to more than 100 sites to help clients design and develop their technology and network infrastructure. This is done to meet the rising need for reduced latency, higher performance, and localised solutions.
AtlasEdge’s portfolio includes data centres in key markets across Europe, including Amsterdam, Barcelona, Berlin, Brussels, Copenhagen, Hamburg, London, Leeds, Madrid, Manchester, Milan, Paris, and Zurich.
And in February 2023, AtlasEdge bought Datacenter One, which featured ‘state-of-the-art’ data centres in Stuttgart, Dusseldorf, and Leverkusen.
