Flexential has secured an $800 million credit facility, upsized by 60 percent from its initial target, to fund more than
Flexential, a leading provider of secure and flexible data center solutions, has established an $800 million credit facility to accelerate the development of new data center capacity in markets where customer demand continues to build. Originally targeted at $500 million, the facility was oversubscribed and upsized by 60 percent due to strong market demand. The dedicated financing vehicle is backed by a syndicate of 11 leading digital infrastructure banks and complements ongoing equity investment from Flexential's sponsors, GI Partners and MSIP.
The capital will support more than 130 MW of new capacity across four key markets within Flexential's national platform. Projects currently under construction include a 36 MW facility in Atlanta-Douglasville, Georgia; a 36 MW facility in Portland-Hillsboro, Oregon; and a 22.5 MW facility in Denver-Parker, Colorado. Also planned are another 36 MW facility in Portland-Hillsboro and a 4.5 MW expansion adjacent to Flexential's existing operations in Atlanta-Norcross, Georgia.
"We are collaborating closely with our customers and partners and making infrastructure investments today based on where we know they are growing," said Ryan Mallory, CEO of Flexential. "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 new facility creates a dedicated financing vehicle for Flexential's development portfolio, providing committed capital to support projects as they move from planning through construction and delivery. It also builds on Flexential's broader investment strategy to expand capacity across its national footprint while maintaining the flexibility to respond to evolving customer requirements.
TD Securities served as administrative agent and joint coordinating lead arranger and joint bookrunner. RBC Capital Markets and J.P. Morgan served as joint coordinating lead arrangers and joint bookrunners. Goldman Sachs, ING, SMBC, Bank of America, and KeyBanc served as joint lead arrangers. Flagstar, Citibank, and Investec served as co-documentation agents. Simpson Thacher was Flexential's legal advisor for the transaction. Flexential empowers the IT journey of the most complex businesses by offering customizable IT solutions designed for today's demanding high-density computing requirements. With colocation, cloud, interconnection, data protection, and professional services, the FlexAnywhere platform anchors its services in 40 data centers across 18 highly connected markets on a scalable 100+ Gbps private network backbone. Flexential solutions are strategically engineered to meet the most stringent challenges in security, compliance, and resiliency. Experience the power of IT flexibility and how we enable digital transformation at www.flexential.com.