Virtus Data Centres, a European data center developer and operator based in the UK, has secured a £ 2.45 billion (US$ 3.24 billion) financing package to fund the development and expansion of its data center portfolio in the U.K. and Europe.
According to a company press release, the package includes a £ 1.2 billion (US$ 1.6 billion) green capex facility, with term and revolving tranches. The funding will support projects including the 78 MW Saunderton campus in Buckinghamshire, future investment at another facility named LONDON19 in Slough, and expansion across Europe.
Adam Eaton, CEO, Virtus, said, “This financing marks an important milestone for Virtus. It reflects the strength and stability of our existing portfolio, our track record of delivery and the opportunities ahead. The capital flexibility it provides will enable us to continue investing in high-quality data center infrastructure and support our ongoing growth across the European market.”
The financing is one of the largest data center bank financings completed in the U.K. It was provided by a consortium of 13 banks led by BNP Paribas, Crédit Agricole CIB, Societe Generale and Standard Chartered Bank, acting as coordinators, senior mandated lead arrangers and bookrunners.
Simmons & Simmons advised Virtus, while Clifford Chance advised the banking consortium. The financing will strengthen Virtus’ balance sheet and provide additional funding for its development pipeline.