EdgeConneX Receives Debt Facility Linked to Sustainability From Ares Management
Ares Management Corporation stated today that funds managed by its Infrastructure Financing strategy have committed to EdgeConneX, a leading global provider of full-service data centre solutions, a delayed draw sustainability-linked debt facility.
The new debt facility commits up to $1 billion and will be used to refinance existing debt as well as fund the development and construction of EdgeConneX's expanding development pipeline.
The facility also contains a sustainability-linked margin adjustment, which means that the interest rate payable is directly associated with EdgeConneX meeting specific pre-determined sustainability criteria.
These goals will be in line with EdgeConneX's overall ESG sustainability approach of "Customer, People, and Planet."
EdgeConneX has expressed its intention to become a carbon-, waste-, and water-neutral data centre provider by 2030 and to design and operate a data centre platform powered entirely by renewable energy.
EdgeConneX, founded in 2009 and supported by EQT, provides customers with high-powered, purpose-built digital infrastructure spanning from hyperlocal edge facilities to hyper-scale data centre estates.
EdgeConneX provides capacity, connection, power, and proximity in a data centre platform that enables cloud, content, network, and technology service providers in over 50 markets across North America, Europe, South America, and Asia.
Spencer Ivey, Partner in Ares’ Infrastructure Debt strategy, said: "We are pleased to strengthen our longstanding relationship with EdgeConneX and EQT through this significant financing that reinforces our shared commitment to corporate sustainability and responsible investment. We believe EdgeConneX is well-positioned to benefit from strong tailwinds for energy-efficient, mission-critical data centres, and we are proud to work with an innovative and purpose-driven business that furthers Ares’ focus on supporting a just energy transition.”
Randy Brouckman, CEO of EdgeConneX, said: "This is a pivotal time for EdgeConneX, and we are excited by the support of Ares as we seek to execute on our growth plans. This sustainability-linked financing underscores our deep commitment to providing innovative, energy-efficient solutions in new and growing markets that generate sustainable value for our clients and stakeholders around the world.”
Source: BusinessWire
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