Data center, colocation, and connectivity service provider, DataBank, has just announced that it has secured $350 Million (USD) in financing, to fund its ongoing edge data center expansion plans.

The transaction is stated to be led by TD Securities and include $175 million 5 years term loan, $125 million delayed draw facility, and $50 million revolver, to fund the company’s capex and general working capital.

Presently operating about 65+ data centers in 27+ metro markets and 20 major interconnect locations, DataBank claims that the transaction is collectively aim for financing the deployment of new and expanded data center capacity at its campuses in Salt Lake City, Denver, Atlanta, and New York, to further bolster its footprint.

“This additional financing allows DataBank to fully implement its aggressive expansion roadmap. Our ability to swiftly complete this transaction reflects both investors’ confidence in our edge strategy as well as DataBank’s proven ability to execute on its business plans,” said Kevin Ooley, DataBank’s President & CFO.

According to Data Bank, this transaction is the second of its kind the company has undertaken this year. The first was announced in March 1, 2023, and it’s a $715 million securitization credit.

Equinix Inc., also recently announced its plans to build a new International Business Exchange™ (IBX®) data center in Montreal, Canada with an investment of about $50 million (USD). As announced, the new facility is expected to be opened in the second half of 2023 and is planned to be part of the first cohort of data centers to support Equinix’s efficiency commitment to sustainable air-cooling practices.

CapitaLand Investment Limited (CLI) also announced its establishment of a new China data center development fund – CapitaLand China Data Centre Partners (CDCP), recently. As announced, the fund is to cover the development of two hyperscale data centers, which are planned to be completed in 2025, and intended to deliver over 100 megawatts (MW) of IT capacity upon completion.