Flexential has secured an $800m credit facility to fund the development of more than 130MW of new data centre capacity across four regions in its US portfolio.
The financing was established with the support of an 11-bank syndicate and is complemented by ongoing equity investment from sponsors GI Partners and MSIP.
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The company plans to use this funding for several projects that are currently under construction and in planning stages.
These projects include a 36MW facility in Atlanta-Douglasville, Georgia, two facilities with 36MW capacity each in Portland-Hillsboro, Oregon, a 22.5MW site in Denver-Parker, Colorado, and an additional 4.5MW expansion near its existing operation in Atlanta-Norcross, Georgia.
The new financing platform provides Flexential with access to committed capital as projects move from planning through to delivery.
This funding will enable it to build new capacity in response to anticipated increases in enterprise and AI-related infrastructure demand.
It was significantly oversubscribed, rising by 60% from an initial $500m target because of high interest from participating banks.
TD Securities acted as administrative agent and joint coordinating lead arranger, while RBC Capital Markets and J.P. Morgan were also joint coordinating lead arrangers and joint bookrunners.
Additional joint lead arrangers included Bank of America, Goldman Sachs, ING, KeyBanc, and SMBC, with Citibank, Flagstar, and Investec serving as co-documentation agents. Simpson Thacher was the legal advisor for Flexential.
Flexential CEO Ryan Mallory said: “We are collaborating closely with our customers and partners and making infrastructure investments today based on where we know they are growing.
“Our customers are planning years in advance, and they need confidence that the capacity, density and connectivity they’ll need will be there when they’re ready. This financing gives us the ability to invest ahead of that demand and deliver the infrastructure to support their growth.”
The company operates 40 data centres across 18 markets, linked by a private network backbone. Its portfolio includes colocation, cloud, interconnection, data protection, and professional services.
