Amid soaring demand for digital infrastructure, data center developer Aligned has increased its secured credit facility to $575 million, citing “consistently strong” customer demand for its adaptive infrastructure.
The new credit line provided an additional $80 million to fund future growth, expanding upon the original facility created last October. Along with the continued backing of Macquarie Infrastructure Partners, BlueMountain Capital Management and Goldman Sachs Bank USA, the facility includes new lenders ING Capital LLC, Shinhan Bank New York Branch and TD Securities.
Aligned is among the data center providers seeking to build on their financial strength as the COVID-19 pandemic tests the resilience of the economy, underscoring the value of online services and their supporting infrastructure.
“As the business world moves at an even more rapid pace towards digital transformation, now more than ever, hyperscalers and large enterprises are demanding highly dynamic, scalable and future-proof data center solutions,” said Aligned CEO Andrew Schaap. “Aligned offers clients a stable and responsible partner whom they can rely on, now and into the future.”
“We’re very fortunate to have knowledgeable investors who understand our business, and the increase in Aligned’s secured credit facility reflects their recognition of our strong market position and rising customer demand,” said Anubhav Raj, CFO of Aligned. “Armed with additional, patient capital, Aligned will be able to accelerate our short and long-term growth strategies, which extend to both domestic and global expansion opportunities.”
With its focus on “smart infrastructure,” Aligned specializes in solving capacity management challenges through innovation in cooling and the supply chain, Aligned’s offering is positioned to appeal to technology-focused customers, especially growing Internet companies.
Aligned operates data center campuses in Dallas, Phoenix, Salt Lake City and Ashburn, Virginia. The company recently said that it has matched the entire energy footprint of its data centers with purchases of renewable energy, as enterprise IT customers and hyperscale operators sharpen their focus on the environmental impact of their data center operations. Aligned says the system uses considerably less energy than other data centers, and consumes up to 85 percent less water, with the ability to run waterless – an increasingly important capability as corporate sustainability programs expand to address water impact.
