EdgeConneX Secures $1.7 Billion in Sustainability Financing
EdgeConneX has secured a series of financings tied to sustainability totalling $1.7 billion. The funds consist of EdgeConneX's first securitisation and multi-currency term loan (ESG Term Loan) to support the company's expansion under its commitment to ESG as part of its 'Customers, People, Planet' core objectives.
The issue of the first Asset-Backed Securities (ABS) by EdgeConneX showcases the value of its national edge data centre platform while enhancing its investment-grade credit profile. In turn, this reduces the company's cost of capital and enables EdgeConneX to install more data centre capacity to meet client demand.
Joe Harar, CFO at EdgeConneX, said:
"The investment-grade rating for the asset-backed securities demonstrates the financial strength of EdgeConneX and confirms the confidence and quality of the EdgeConneX edge business model.
"This new financing affords the company high flexibility to not only invest in our core infrastructure in a sustainability-minded way but also to support our high growth customers that need green, sustainability-linked solutions hyper-locally and at hyper-scale globally."
The news forms part of EdgeConneX's sustainability plan to fund the creation of more energy-efficient data centres internationally in both new and existing markets, decreasing carbon emissions and delivering green energy solutions to its clients.
The company's goal is to be a carbon-, waste-, and water-neutral data centre provider by 2030 and to construct and run a data centre platform powered by 100 per cent renewable energy.
In related developments, April saw EdgeConneX continue its expansion into new markets with the acquisition of GTN Data Centre in Indonesia.
The deal will see GTN's existing carrier-neutral data centre built further on an adjacent parcel of land to become a 90MW campus. At present, GTN's carrier-neutral data centre services more than 50 customers in a nearly 7MW facility.