Manulife-backed Serverfarm Upsizes TD Securities-led Credit Facility to $1.637 Billion to Deliver Critical Capacity to Hyperscale Tenants
Serverfarm Secures $747 million of Additional Financing Capacity to Capitalize on Rapidly Accelerating Demand from Hyperscale Customers for Cloud and AI Deployments
TORONTO and LOS ANGELES, Dec. 17, 2024 /PRNewswire/ -- Serverfarm, a global data center developer and operator, has successfully increased its North American credit facility led by TD Securities to $1.637 billion, as part of its accelerated business growth backed by significant long-term commitments from hyperscale customers.
Global demand for high quality hyperscale colocation capacity for cloud and AI deployments continues to accelerate in the North American market, which is significantly constrained for large, campus-scale near-term capacity. With a portfolio of secured powered land, supply chain commitments and award-winning design, construction and operations teams, the Serverfarm platform is uniquely positioned as a trusted hyperscale partner to deliver to these demands with speed and at scale.
"Following our recent 500MW+ Houston announcement, we're delighted to have access to additional capital to support Serverfarm's strong track record of providing near-term capacity to key customers", said Avner Papouchado, CEO, Serverfarm. "Rapidly accelerating cloud and AI demand together with long-term and sizable commitments from hyperscale customers is driving growth across the Serverfarm portfolio."
"We are grateful for our financing partners and look forward to continuing to build on the strategic long-term relationships we have with them," said Recep Kendircioglu, Global Head of Infrastructure, Manulife Investment Management. "The strong interest that we have received from the lender community is a testament to the strength of the Serverfarm platform and the company's significant growth potential."
The upsize added seven new lenders to the banking syndicate, which now totals 19 lenders.
About Serverfarm
Serverfarm is an established multi-regional data center platform that provides data center solutions to key hyperscale, webscale, technology & network customers. These data center solutions include Colocation, Data Center Design, and IT Infrastructure Management, through Serverfarm's proprietary InCommand DMaaS technology. For more information, visit serverfarmllc.com.
About Manulife Wealth & Asset Management
As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
SOURCE Serverfarm
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