Finance - September 17, 2020
Aligned completes $1 billion in data center sustainability-based financing
Aligned, a data center provider based in Arizona, announced Sept. 16 that they completed a $1 billion senior secured credit facility, the first U.S. data center sustainability-linked financing.
This facility will allow Aligned to focus additional capital on their long-term sustainability goals, such as matching 100% of their carbon energy consumption with renewable energy by 2024 and increasing transparency and continuous improvement around sustainability reporting.
“Aligned’s latest sustainability-linked financing accelerates our goal to set a best-in-class example for the data center industry with respect to environmentally and socially sustainable growth,” Aligned CFO Anubhav Raj said in a statement. “Sustainable practices and principles permeate every facet of Aligned’s organization; aligning these initiatives with our financing further demonstrates an industry-leading commitment to environmental stewardship.”
The facility consists of a $650 million term loan, a $100 million delayed draw term loan and a $250 million revolving credit facility. The facility is also the result of a partnership between Aligned and TD Securities, Goldman Sachs Lending Partners and ING Capital.
This move follows Aligned announcement earlier this year that they were matching 100% of the IT loads across their data center portfolio with certified renewable energy. They were named a 2020 Green Lease Leader by the Department of Energy’s Better Buildings Alliance and use 80% less energy through their newly implemented Delta cooling technology.