DataBank Secures $725M To Finance Projects

Dallas-based DataBank has established a new $725 million credit facility with which to finance its ongoing and future data center construction projects.

The new capital will fund ongoing expansion in existing markets including on its campuses in New York, Denver, Minneapolis, Salt Lake City, and Dallas. The facility is supported by a bank group of 14 digital infrastructure banks including TD Securities engaged as the Administrative Agent and Joint Lead Arranger. The financing provides a source of capital to meet demand for capacity within DataBank’s footprint.

Citizens Bank, CoBank, Deustche Bank, First Citizens, and Société Générale were Joint Lead Arrangers and Joint Bookrunners for the transaction with JP Morgan, Nomura Securities, RBC Capital Markets and Regions Bank joining as Joint Lead Arrangers. Bank of America and Goldman Sachs were Co-Documentation Agents. Cadence Bank and Preferred Bank supported the transaction as well. Jones Day was DataBank’s legal advisor for the transaction.