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Aligned Data Centers increases sustainability-linked loan

By Zach Thompson
Tue 24 May 2022

Aligned Data Centers has increased its sustainability-linked loan from $375 million to $1.75 billion to speed up the next phase of its strategic growth.

The technology infrastructure company's new facility comprises a $500 million 12-month delayed-draw term loan, a $750 million 24-month delayed-draw term loan, and a $500 million revolving credit facility.

TD Securities, Wells Fargo Securities, and Citizens Bank, NA acted as joint bookrunners and joint lead arrangers for the facility.

Aligned also involved ING Capital as a sustainability structuring agent and TD Securities as a sustainability and administrative agent.

In addition, over 20 banks supported Aligned on the transaction.

Aligned Data Centers offers innovative, sustainable, and adaptive scale Data Centers and build-to-scale solutions for global hyperscale and enterprise customers.

Its infrastructure also enables greater density and market reach within the same footprint, meaning customers can scale up undisrupted and maintain power usage effectiveness.

Aligned's data center offerings can provide businesses with improved sustainability, reliability and bottom line when reducing the energy, water and space needed to operate and combining this effort with its cooling technology.

"Aligned's latest increase to its sustainability-linked financing is a testament not only to the recognition of our relationship banks and financial institutions of the precipitous demand for digital infrastructure and services, but also of the singular demand for Aligned's adaptive data center platform, which provides a sustainable and dynamic solution to the needs of high-growth, high-capacity customers," Aligned CFO Anubhav Raj says.

"Green financing is an embedded element of Aligned's industry-leading commitment to data center sustainability and environmental stewardship, and further supports our ability to innovate disruptively in pursuit of a climate-secure industry, and world."

The company's sustainable finance initiatives are capable of supporting its growing data center portfolio, which involves Aligned broadening its data center developments in Ashburn, Chicago, Phoenix, and Salt Lake City and acquiring land in other significant US and international regions for new builds.

Aligned's latest increase of its sustainability-linked loan comes after several important milestones in its record of historic green financing, such as the first-ever green and largest-ever inaugural data center securitisation and the first-ever US data center sustainability-linked financing.

"Our sophisticated customers require highly dynamic and massively scalable data center solutions that can be delivered at speed, anywhere their business growth demands, while simultaneously bolstering their environmental commitments and paths to net-zero carbon," Aligned CEO Andrew Schaap says.

"We're deeply gratified that leading financial institutions continue to support our objective to be the data center industry's leading change agent for sustainability by providing access to, and increasing, our sustainability-linked financing to deliver on that mission."

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