We advised the lenders on the facility

Davis Polk advised the administrative agent and the coordinating lead arrangers on a $551 million project financing to Rowan Cinco LLC for the construction of a 300 megawatt data center located in Medina County, Texas. The financing consists of a $536 million senior secured term loan facility and a senior secured revolving letter of credit facility of up to $15 million.

Rowan Cinco LLC is a special purpose vehicle of Rowan Digital Infrastructure, a hyperscale data center developer and portfolio company of Quinbrook Infrastructure Partners.

Rowan was established in November 2020 to support hyperscale data center users in meeting their development needs sustainably. Rowan specializes in delivering customized data center solutions, focusing on speed and scalability for their hyperscale partners. Rowan’s scope of services includes land acquisition, built-environment, energy and water sustainability solutions, renewable power supply and other infrastructure.

The Davis Polk infrastructure finance team included partner David J. Penna, counsel Kailash Gupta and associates Jack Hobbie and Taylor Roberson. Counsel Julie E. Dechen provided real estate advice. Partner Ethan R. Goldman provided tax advice. Counsel Jarret Erickson provided restructuring advice. Partner Meyer C. Dworkin and counsel Matthew J. Wiener provided ISDA advice. Members of the Davis Polk team are based in the Washington DC and New York offices.

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