EdgeConneX raises $1.7bn in sustainability finance
EdgeConneX has secured a series of sustainability-linked financings totalling $1.7 billion.
The funds include EdgeConneX's first securitisation and multi-currency term loan (ESG Term Loan) to support the company's growth and in line with its commitment to ESG as part of its 'Customers, People, Planet' core values.
The issuance of EdgeConneX's first Asset-Backed Securities (ABS) demonstrates the value of its national edge data centre platform while improving its investment-grade credit profile. This in turn lowers the company's cost of capital as well as enables EdgeConneX to deploy greater data centre capacity in line client demand.
"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," said Joe Harar, CFO at EdgeConneX.
"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 hyperscale globally."
The news forms part of EdgeConneX's sustainability strategy to fund the development of more energy-efficient data centres globally in both new and existing markets, reducing carbon emissions, and providing green energy solutions to its customers.
The company's goal is to be a carbon-, waste- and water-neutral data centre provider by 2030 and develop and operate a data centre platform powered by 100% renewable energy.
In related news April saw, EdgeConneX continue its expansion into new markets with the acquisition of GTN Data Center in Indonesia.
The deal will see GTN's existing carrier-neutral data centre developed further on an adjacent plot of land, to form a 90MW campus. At present, GTN's carrier neutral data centre supports more than 50 customers in a near 7MW facility.