Aligned Energy Raises $1 Billion Credit Facility

First sustainability linked financing for a US data center

San Diego, CA – October 2, 2020 – Cooley advised Aligned Energy on its $1 billion credit facility, one of the largest private debt raises in data center history and the first sustainability linked financing for a US data center. The facility, which closed September 2, will provide Aligned with additional capital to accelerate corporate, customer and community-related sustainability initiatives as well as short- and long-term growth objectives. Partner Samantha LaPine led the Cooley team advising Aligned on the transaction.

TD Securities acted as the administrative and collateral agent, Goldman Sachs Lending Partners as the syndication agent and ING Capital as the sustainability structuring agent. TD Securities, Goldman Sachs, Citizens Bank, Deutsche Bank, New York Branch and Nomura Securities International served as joint bookrunners and joint lead arrangers for the facility.

“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,” Anubhav Raj, Aligned CFO, said in a news release. “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.”

Aligned Energy is a data center infrastructure technology company offering colocation and build-to-scale data center solutions to cloud, enterprise and service providers. The company’s mission is to provide ultra-efficient, rapidly deployable and sustainable data center solutions that enable customers to scale easily and efficiently as their business grows, while solving the world’s toughest sustainability challenges associated with data center infrastructure, energy consumption and water usage.

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