Cloud and AI demand drive Serverfarm’s credit expansion, adding seven lenders to its syndicate
Serverfarm, a global developer and operator of data centres, has increased its North American credit facility to $1.637bn.
TD Securities led the financing, which supports the company’s rapid growth and long-term commitments from hyperscale customers.
The demand for hyperscale colocation capacity for cloud and AI deployments continues to grow in the North American market, which is facing significant constraints in large, campus-scale near-term capacity.
With a portfolio of secured powered land, reliable supply chain commitments, and award-winning teams in design, construction, and operations, Serverfarm is positioned as a trusted partner for hyperscale customers, delivering capacity with speed and scale.
“Following our recent 500MW+ Houston announcement, we're delighted to have access to additional capital to support Serverfarm's strong track record of providing near-term capacity to key customers,” said Avner Papouchado, CEO of Serverfarm.
“Rapidly accelerating cloud and AI demand together with long-term and sizable commitments from hyperscale customers is driving growth across the Serverfarm portfolio.”
The expanded credit facility demonstrates confidence from the lender community.
Recep Kendircioglu, global head of Infrastructure at Manulife Investment Management, expressed appreciation for the partnerships, stating, “We are grateful for our financing partners and look forward to continuing to build on the strategic long-term relationships we have with them.”
He added that the strong interest from the lender community highlights the strength of the Serverfarm platform and its significant growth potential.
Seven new lenders joined the banking syndicate through this expansion, bringing the total number of lenders to 19.
