Aligned Expands Credit Facility to $575M
- May 14, 2020
Data center provider Aligned has boosted its secured credit facility to $575 million, attributing the need for the funding to “continuous and consistently strong customer demand.” Previous Aligned lenders Macquarie Infrastructure Partners, BlueMountain Capital Management and Goldman Sachs Bank USA were joined by new lenders including ING Capital LLC, Shinhan Bank New York Branch and TD Securities.
In a prepared statement, Aligned CFO Anubhav Raj described the funding as “patient capital” and said it would enable the company to accelerate its short- and long-term growth strategies, with respect to both domestic and global opportunities.
Aligned’s data center portfolio, across which it matches 100 percent of IT loads with certified renewable energy, includes facilities in Dallas, Phoenix, Salt Lake City and Ashburn, Va.
Expansions and expansions
In September, Aligned announced plans to expand its 19-acre metro Dallas data center by 8 MW. A month later, the company obtained a $495 million secured credit facility from a group that includes Goldman Sachs Bank USA, CPPIB Credit Investments Inc. and a global investment manager. In late October, Aligned announced that it would significantly expand its metro Salt Lake city data center campus, adding 240,000 square feet and 48 MW of capacity.
The second-half 2019 data center report from CBRE found record-high net absorption of 396.4 MW across the nation’s seven primary wholesale data center markets: Atlanta, Chicago, Dallas/Fort Worth, New York Tri-State, Northern Virginia, Phoenix and Silicon Valley.