en.Wedoany.com Reported - DataBank, a provider of enterprise-grade edge colocation, interconnection, and managed services, has completed two financing transactions totaling $1.45 billion, including an $800 million corporate revolving credit facility and an additional $650 million in financing for the construction of its Red Oak data center campus in Texas.
DataBank has closed an $800 million revolving credit facility maturing in 2031, with proceeds to be used for general corporate purposes, including working capital needs, capital expenditures, and providing liquidity support for the company's ongoing growth and acquisition strategy. The facility was arranged by a syndicate led by Citizens Bank, N.A., with joint lead arrangers including Citibank, MUFG Bank, Ltd., PNC Bank, N.A., TD Securities (USA) LLC, Truist Securities, Inc., U.S. Bank, N.A., and Wells Fargo Securities.
DataBank has also completed a $650 million increase to the existing $2 billion construction financing for its Red Oak campus in Texas, which was initially announced in April 2026. This brings the total financing for the Red Oak campus to $2.65 billion, supporting the construction of a fourth building on the campus and adding 60 megawatts of incremental IT capacity. The increase includes $400 million in bank financing led by the same institutions as the April 2026 announcement, and $250 million in notes issued through a private placement, DataBank's first such transaction. MUFG Bank served as lead placement agent, with TD Securities (USA) LLC and Barclays as co-placement agents, and Citibank, Citizens Bank, and National Bank of Canada as co-placement agents.
DataBank CEO Raul K. Martynek stated that the new revolving credit facility enhances financial flexibility and reflects the confidence of lending partners in DataBank's business model and long-term growth trajectory. DataBank President and CFO Kevin Ooley noted that with continued acceleration in demand for data center capacity, having a robust and flexible capital structure is critical; the revolving credit facility, combined with the increased Red Oak financing and the first private placement, enables DataBank to act decisively as it expands its platform and deepens relationships with hyperscale, cloud, and enterprise customers.
Davis Polk & Wardwell LLP served as legal counsel to DataBank for both transactions.
DataBank helps enterprises, technology, and content providers ensure their data and applications are online, secure, compliant, and ready to scale to meet the demands of the AI era. The company was recognized by Deloitte in 2023 and 2024 and was named one of America's fastest-growing private companies by Inc. 5000 in 2024. Its edge colocation and infrastructure footprint includes over 70 "HPC-ready" data centers across more than 25 markets, 20 interconnection hubs, and access to cloud provider ecosystems. The company combines its platform with contract portability, managed security, compliance support, hands-on assistance, and a 100% uptime availability guarantee.
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