Interconnected data center provider DC BLOX announced that it has raised incremental equity capital from its existing and new investors, led by Post Road Group and Bain Capital Credit. This funding will support deployment of over $1 billion in total capital to finance future construction and develop powered-land banking opportunities, reinforcing DC BLOX’s market position as a hyperscale-ready data center platform.
DC BLOX also secured a $265 million green senior secured credit facilities (SSCF) loan from its Joint Lead Arrangers First Citizens Bank, ING Capital and Nomura Securities International, to develop multiple, preleased hyperscale-driven edge sites and invest in energy infrastructure for 216 MW of utility power in one of its recently contracted projects.
“The financial support from our partners demonstrates confidence in our ability to satisfy the rapidly growing digital infrastructure needs of our customers,” said Jeff Uphues, CEO, DC BLOX. “From our edge market data centers, Myrtle Beach cable landing station, regional fiber network and multiple 150MW+ hyperscale campuses, DC BLOX is building the digital infrastructure needed to drive future economic growth across the Southeast.”
“The debt infusion and incremental equity commitment have positioned the company to achieve its ambitious development goals,” said Melih Ileri, SVP of capital markets and strategy for DC BLOX. “We are grateful for the support from our partners at First Citizens Bank and ING, and Nomura’s creativity and speed of execution was greatly appreciated by the company.”
As part of the transaction, Bain Capital Credit and Post Road Group will convert existing debt positions to equity in DC BLOX.
