EdgeConneX, an early mover in edge computing, said it scored financings totaling $1.7 billion. #pressrelease
June 22, 2022
HERNDON, Va. – EdgeConneX®, the pioneer in global Hyperlocal to Hyperscale Data Center Solutions, announces it has successfully secured a series of sustainability-linked financings totaling $1.7 Billion. The financings include EdgeConneX first-ever securitization and multi-currency term loan ("ESG Term Loan") to further the company's global growth. These transactions highlight EdgeConneX market leadership and commitment to ESG as part of its Customers, People, Planet core values and environmental stewardship.
The first Asset-Backed Securities (ABS) for EdgeConneX demonstrate the unrivaled value of the company's national Edge Data Center platform while dramatically improving its investment-grade credit profile. This not only lowers the company's cost of capital but also allows EdgeConneX to deploy greater data center capacity to meet its clients' accelerating demands in new and existing markets.
"The investment-grade rating for the asset-backed securities demonstrates the financial strength of EdgeConneX and confirms the confidence and quality of the EdgeConneX edge business model," states Joe Harar, CFO at EdgeConneX. "This new financing affords the company high flexibility to not only invest in our core infrastructure in a sustainability-minded way but also to support our high growth customers that need green, sustainability-linked solutions hyper-locally and at hyperscale globally."
The international multi-currency term loan issuance forms an integral part of EdgeConneX sustainability strategy to fund the development of more energy-efficient data centers across the globe in new and existing markets, reducing carbon emissions, and providing green energy solutions to its customers. EdgeConneX goal is to be a carbon-, waste- and water-neutral data center provider by 2030 and develop and operate a data center platform powered by 100% renewable energy. The sustainability-linked financing furthers the company's active role in promoting and practicing sustainability, reducing environmental impact across its global footprint, and optimizing data center design, operations, and management.
Read the full press release here.
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