AdaniConneX Secures 1.44 Billion From 8 Global Banks (Image Source: X/DALL.E)
AdaniConneX, a joint venture between Adani Enterprises and EdgeConneX, has successfully secured India’s largest sustainability-linked financing that aims to raise USD 1.44 billion. In a press release, AdaniConneX announced that the financing has an initial commitment of USD 875 million, with the potential to extend it up to USD 1.44 billion.
What Is Joint Venture Mean?
This transaction significantly boosts AdaniConneX’s construction financing pool to USD 1.65 billion, following its maiden construction facility of USD 213 million executed in June 2023.
About Upcoming Data Centre
The upcoming data centre facilities under AdaniConneX will incorporate state-of-the-art technologies and renewable energy solutions to minimize environmental impact while maximizing operational efficiency.
What Is In Press Release?
The press release highlighted that definitive agreements have been signed with eight international lenders, including ING Bank N.V., Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered Bank, Societe Generale, and Sumitomo Mitsui Banking Corporation.
Jeyakumar Janakaraj, CEO of AdaniConneX, expressed satisfaction with the successful execution of the financing, emphasizing the collective effort to establish sustainable and resilient digital infrastructure.
He emphasized that construction financing is a crucial aspect of AdaniConneX’s capital management plan, enabling the delivery of data center solutions rooted in sustainability and environmental stewardship.
The transaction saw ING Bank N.V., Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered Bank, Societe Generale, and Sumitomo Mitsui Banking Corporation acting as Mandated Lead Arrangers. ING Bank N.V. and MUFG Bank Ltd played roles as Structuring Banks, while ING Bank N.V., MUFG Bank Ltd, and Sumitomo Mitsui Banking Corporation served as Sustainability Coordinators.
Allen and Overy and Saraf and Partners acted as borrowers’ counsels, while Milbank and Cyril Amarchand Mangaldas served as lenders’ counsels.
(With ANI Inputs)
