We advised DataBank on the transaction

Davis Polk advised DataBank special purpose vehicles on a $2 billion project financing for the construction of three 60 MW data centers located in Red Oak, Texas. The credit documentation builds in additional flexibility that allows the borrowers to raise incremental loans and/or issue new private placement debt to finance the construction of one additional 60 MW data center located in the same campus. This is the first bank-bond facility in the data center space.

DataBank is a Digital Bridge subsidiary and a leading provider of enterprise-class data center, cloud and interconnection services. Its infrastructure platform consists of 65+ data centers located within 100 miles of more than 60% of the U.S. population, 20 major interconnect hubs and “high performance computing-ready” data centers designed to accommodate computing nodes with the most demanding air- and water-cooling requirements.

The Davis Polk infrastructure finance team included partner David J. Penna, counsel Costanza Garcia Laposse and associates Mostafa Al Khonaizi, Scott (Xiantao) Wang and Taylor Roberson. The real estate team included counsel J. Avelina Burbridge and associates Edward Peck, Maria J Budis and Alexa Cibellis. Counsel Michele Babkine provided ISDA advice. Members of the Davis Polk team are based in the Washington DC and New York offices.

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