MUFG serves as coordinating lead arranger, joint bookrunner, administrative agent on EdgeCore Digital Infrastructure $1.9 billion debt financing
This transaction supports the client’s continued growth and development of their flagship data center campus and represents their inaugural green loan.
New York, NY (January 23, 2024) – Mitsubishi UFJ Financial Group (MUFG) is pleased to announce the closing of a $1.9 billion debt financing for EdgeCore Digital Infrastructure, conducted in conjunction with its owner, Partners Group, a leading global private markets firm acting on behalf of its clients, to fund scalable development of their data center campus in Mesa, Arizona. This project represents EdgeCore's first data center financing in the rapidly expanding Phoenix market under Partners Group ownership.
The financing includes a limited-recourse senior secured term loan, a revolving senior secured letter of credit facility, and an uncommitted accordion feature that will fund further development. MUFG acted as a coordinating lead arranger, joint bookrunner, and administrative agent on the transaction.
“MUFG is proud we could support EdgeCore in the leading, structuring, and execution of this very successful transaction,” says Nanda Kamat, Head of Infrastructure Finance at MUFG. “The deal was more than two times oversubscribed, demonstrating the strong sponsorship provided by Partners Group.”
“This was a milestone transaction for EdgeCore,” says Julie Brewer, SVP of Finance, EdgeCore Digital Infrastructure. “We value our lending relationship with MUFG and look forward to working with them in the future as we continue to prioritize sustainable construction and business practices in serving our customers’ needs.”
At full build-out, EdgeCore’s LEED-designed, water-neutral campus in Mesa will be capable of supporting a minimum of 450 MW of critical load and will be engineered to meet current and future customer requirements across 3.1+ million square feet of space. The campus currently has one operational data center and two data centers totaling 206 MW under construction.
Temperature regulation at EdgeCore’s campus in Mesa utilizes an air-cooled design with an ultra-efficient closed-loop chilled water system, allowing the company to achieve a benchmark water usage effectiveness (WUE) rating of nearly zero and a power usage effectiveness (PUE) rating far below the industry average of around 1.50. As a result of these energy efficiency and sustainable water management features, financing for the project was structured as a Green Loan. This is EdgeCore’s first Green Loan and the largest Green Loan by a Partners Group portfolio company to date.
Press contact:
Meghan Carbone
Meghan.Carbone@mufgsecurities.com
T: +1 (908) 894-0573
About MUFG and MUFG Americas
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. MUFG has nearly 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.
MUFG’s Americas operations, including its offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and subsidiaries, and are focused on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is one of the largest foreign banking organizations in the Americas. For locations, banking capabilities and services, career opportunities, and more, visit www.mufgamericas.com.
About EdgeCore Digital Infrastructure
EdgeCore Digital Infrastructure serves the world’s largest cloud and internet companies with both ready-for-occupancy and build-to-suit data center campuses that are designed for density. Privately held and backed by committed equity, EdgeCore enables hyperscale customer requirements by proactively investing in regions that provide the land and power necessary to support and scale AI and cloud technology. While working thoughtfully with the communities in which we do business, our data center campuses are built at scale to meet key performance specifications, safety metrics and sustainability objectives. EdgeCore has data center campuses in four North American markets with plans to expand into new regions in 2024. For more information, please visit edgecore.com.
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