<div>
  <ul>
    <li>
      <p>
        DataBank, a provider of edge colocation and managed cloud services, has secured a credit facility worth USD 725 million. This financing arrangement, led by TD Securities, involved 14 digital infrastructure banks.
      </p>
    </li>
    <li>
      <p>
        The company intends to use this funding to fast-track construction projects across various US cities and expand its data center infrastructure. The credit facility offers a flexible structure, allowing DataBank to withdraw funds as needed while minimizing interest payments.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        In February 2024, DataBank issued secured notes worth 
        <a href="https://www.prnewswire.com/news-releases/databank-raises-456-million-in-fourth-securitization-of-the-past-three-years-302063244.html">
          USD 456 million
        </a>
         to refinance the bridge loan taken to 
        <a href="https://sp-edge.com/updates/7919?industryIds=33">
          purchase
        </a>
         data centers from CyrusOne. In April 2024, it 
        <a href="https://sp-edge.com/updates/28100">
          acquired
        </a>
         the LAS1 Edge data center in Las Vegas, Nevada, increasing its data center count to 69. Further, in 2023, the company expanded the floor area of seven data centers in various locations and acquired facilities in Virginia and Atlanta to significantly increase its footprint.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


Edge Computing

ANALYST_QUICK_TAKE

<div>
 <p>DataBank, an edge colocation and managed cloud services provider, has secured a USD 725 million credit facility. This funding, led by TD Securities, included 14 digital infrastructure banks. DataBank plans to use the funding to expedite construction projects across U.S. cities and expand data center infrastructure. The credit facility provides a flexible structure, enabling DataBank to draw funds on demand and reduce interest payments.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> In February 2024, DataBank issued secured notes worth <a href="https:<br>
//www.prnewswire.com/news-releases/databank-raises-456-million-in-fourth-securitization-of-the-past-three-years-302063244.html"> USD 456 million </a> to refinance the bridge loan taken to <a href="https:<br>
//sp-edge.com/updates/7919?industryIds=33"> purchase </a> data centers from CyrusOne. In April 2024, it <a href="https:<br>
//sp-edge.com/updates/28100"> acquired </a> the LAS1 Edge data center in Las Vegas, Nevada, increasing its data center count to 69. Further, in 2023, the company expanded the floor area of seven data centers in various locations and acquired facilities in Virginia and Atlanta to significantly increase its footprint.</p>

DataBank raises USD 725 million in debt financing to expand data center infrastructure in US

<div>
 <p>DataBank, a leading firm in Edge colocation and managed cloud services, has expanded its portfolio through the acquisition of LAS1 Edge data center based in Las Vegas, Nevada. This move is in line with the company's aim to build the largest Edge data center footprint in the US.</p>
 <p>The newly purchased data center stands out with its notable features which include 36,800 raised sq ft, 3.55 MW of critical IT load power, and accessibility to five on-site carriers. The facility also boasts of its fiber equipment and its redundant entry paths designed for optimal connectivity and dependability.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> DataBank is following an acquisitions–and investments–led strategy to expand its business operations. Along with this acquisition, the company has 69 data center facilities, including four <a href="https:<br>
//sp-edge.com/updates/7919?industryIds=33"> acquired </a> from CyrusOne in January 2022 for USD 670 million.</p>

DataBank acquires LAS1 edge data center to expand footprint

Edge data center colocation provider, DataBank, has raised $350 million in debt funding. The funding is led by TD Securities and includes a $175 million, 5-year Term Loan, a $125 million Delayed Draw Term Loan, and a $50 million revolving credit line. The funding brings DataBank's total funding to $2 billion. The company plans to use the funding to support the expansion of its edge data center footprint and for working capital and capex expenditures related to the deployment of new and expanded data center capacity at its locations in Salt Lake City, Denver, Atlanta, and New York.

All Updates

DataBank raises USD 725 million in debt financing to expand data center infrastructure in US

DataBank acquires LAS1 edge data center to expand footprint

Datadank secures USD 350 million in debt funding

Databank buys four data centers from CyrusOne for USD 670 million