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Global data center provider EdgeConneX announced that it has secured $1.9 billion in sustainability-linked financing, […]]
EdgeConneX Secures $1.9 Billion in Financing Tied to Sustainability Goals – ESG Today
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Companies/ Sustainable Finance
EdgeConneX Secures $1.9 Billion in Financing Tied to Sustainability Goals
Mark Segal
April 15, 2024
Global data center provider EdgeConneX announced that it has secured $1.9 billion in sustainability-linked financing, with proceeds aimed at supporting its digital infrastructure expansion in EMEA, and with interest rates tied to the achievement of the company’s environmental sustainability goals.
Founded in 2009, EdgeConneX provides data center solutions ranging from 40kW to 100MW. The company was acquired by EQT Infrastrcuture in 2020. The new transaction builds on an initial $2.9 sustainability-linked financing announced by the company in 2022, and transitions it from stand-alone project-based funding to a more robust structured corporate debt package.
According to EdgeConneX, the new financing includes sustainability-linked margin adjustments, which ties interest rates on the debt to the company’s sustainability-linked margin adjustments. EdgeConneX’ environmental sustainability goals include becoming a carbon-, waste-, and water-neutral data center provider, and developing and operating a data center platform powered by 100% renewable energy by 2030.
EdgeConneX said that the transaction was significantly oversubscribed from both existing and new lenders.
EdgeConneX CFO Joe Harar said:
“The reception of this transaction reconfirms our status as an industry leading data center developer and operator and reinforces our belief that responsible growth and operational excellence go hand in hand. It showcases our ability to replicate this success on a global scale. This is a significant milestone in our journey towards leading the industry in sustainable practices, and we are excited about the future possibilities this opens up for EdgeConneX and our stakeholders.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
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