Pure DC secures $1.9 billion financing for data center build-out
Pure Data Centres Group has secured $1.9 billion in new financing to support its data center build-out across Europe and the Middle East.
Pure Data Centres Group (Pure DC) has secured new financing to fuel its build-out. The company this week announced a $780 million platform growth facility with a $1.1 billion accordion, creating a framework to expand financing to approximately $1.9 billion.
The platform growth facility will support Pure's development pipeline and the acquisition of future sites across Europe and the Middle East. With today's announcement, financing for the past 12 months now totals more than $6.2 billion.
Strategic Expansion
The company said the funds give Pure "significant financial flexibility" to execute against its growth strategy in the European and Middle East data center markets. This financing follows $2.7 billion announced in May, including a $2.15 billion facility secured against Pure DC's Dublin and Amsterdam campuses.
Attracting new lenders and broadening our funding base is a strong endorsement of Pure's differentiated strategy. We are building a pan-European and Middle East cloud and AI infrastructure business rooted in secured power sites and backed by teams that know how to deliver.
New Lenders
The financing included three new lenders, with Citigroup Global Markets, First Abu Dhabi Bank (FAB), and Infranity joining ABN AMRO, Allianz Global Investors, and SMBC in supporting the facility. In July, Pure secured a further €1.3 billion ($1.46 billion) of committed senior debt for Phase 1 of its Seinäjoki AI campus in Finland.
Pure was established in 2015 and is backed by funds managed by Oaktree Capital Management. The London-based company currently has more than 500MW of IT capacity in operation or development in markets across Europe, Asia, and the Middle East.
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