Rowan Digital Infrastructure, a privately held data center developer and operator, has secured more than US$ 1.5 billion in additional financing capacity to support early-stage development across the company’s 5.5 GW US data center pipeline.
The funds were secured through an expanded US$ 600 million term loan, a US$ 590 million revolving credit facility and a US$ 355 million letter of credit facility. Apterra Infrastructure Capital led the term loan expansion, while Citibank led the two new credit facilities. The financing will cover activities such as land acquisition, power procurement and long-lead equipment orders.
According to a press release, the term loan expansion increases Rowan’s existing facility with Apterra from US$ 300 million to US$ 900 million. Established in September 2025, the original facility was intended to fund early-stage project development. The new revolving credit facility provides US$ 590 million in liquidity that Rowan can draw and repay as needed. The separate US$ 355 million letter of credit facility will cover collateral requirements, including utility interconnection deposits and obligations to equipment vendors. Under expansion provisions, the revolving facility can increase to US$ 2 billion and the letter of credit facility to US$ 1 billion, subject to certain conditions.
“Rowan has been built on the thesis that speed to power and deep community engagement will define the next era of digital infrastructure,” said Charley Daitch, CEO, Rowan Digital Infrastructure. “With more than 1.2 GW already contracted to world-class technology leaders, Rowan maintains an expansive portfolio of strategic locations to continuously scale support for our hyperscale partners. Securing corporate financing from banks of this caliber is a milestone in Rowan’s growth and a reflection of the team and platform we’ve built.”
Ralph Cho and Michael Pantelogianis, Co-CEOs, Apterra, said, “Rowan has set a high bar in hyperscale data center development, and we are pleased to build on our relationship through this financing, demand for digital infrastructure financing continues to accelerate, and Apterra is well positioned to support leading developers as they scale.”
Saad Zaman, Managing Director, Citibank, N.A., said, “Citi is honored to serve as left lead arranger, bookrunner and administrative agent on Rowan’s inaugural syndicated corporate credit facilities, a milestone in the company’s evolution that provides scalable relationship capital to support future growth.”
The lender group for the new facilities includes Citibank, Mizuho Bank, MUFG Bank, Goldman Sachs Bank USA, Societe Generale, Sumitomo Mitsui Banking Corporation and Huntington National Bank. Citibank served as lead left arranger and administrative agent, while Apterra led the term loan expansion.
The transactions add to more than US$ 8 billion Rowan has raised from over 40 lenders in the past 18 months. This includes the US$ 2.9 billion financing for its Temple 1 project earlier this year. Rowan said more than 1.2 GW of its data center capacity is already contracted to technology companies.
Simpson Thacher & Bartlett LLP advised Rowan on the revolving credit and letter of credit facilities, while Dechert LLP represented the lenders. Kirkland & Ellis LLP advised Rowan on the term loan expansion, with Milbank LLP representing the lender group.