DataBank secures $2.0B loan for Red Oak campus

DataBank has announced a new $2.0B construction loan for its Red Oak, TX campus.

• $2.0B construction loan funds the build-out of the first 3 of 8 planned data centers (DFW9, DFW10, DFW11) on the Red Oak campus; those three facilities are already leased, will total 600,000 square feet and 180MW of power, and the financing accelerates construction and delivery timelines by approximately 18 months.
• Transaction and context: The financing sits within DataBank’s Green Financing Framework requiring specific PUE, water conservation, and carbon emissions reduction criteria (DataBank target: carbon neutral by 2030). MUFG Bank, Ltd. acted as Administrative Agent, Coordinating Lead Arranger and Sole Bookrunner; Davis Polk served as DataBank’s legal advisor. This follows a $1.6B credit facility expansion and a $1.1B hyperscale securitization, bringing total financings in the past year to $4.7B.