AdaniConneX, a 50:50 joint venture between AdEnterprises and EdgeConneX, has established India’s largest sustainability linked financing to raise up to $1.44 billion. AdaniConnex said the financing has an initial commitment of $875 million, with a feature to extend commitment up to $1.44 billion.
The transaction takes AdaniConneX’s construction financing pool to $1.65 billion, building on the maiden construction facility of $213 million executed in June 2023, a official press release said.
The upcoming data centre facilities will employ state-of-the-art technologies and renewable energy solutions to minimise the ecological footprint while optimising operational efficiency.
The release said that definitive agreements have been executed with eight international lenders – ING Bank NV, Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd, Natixis, Standard Chartered Bank, Societe Generale and Sumitomo Mitsui Banking Corporation.
“This successful exercise is a testament to the collective resolve of the parties to meet the challenges of establishing sustainable and robust digital infrastructure, thereby pushing norms and setting new industry benchmarks,” said Jeyakumar Janakaraj, CEO of AdaniConneX.
“Construction financing is a core element of the AdaniConneX capital management plan, enabling us to deliver a data centre solution firmly rooted in sustainability and environmental stewardship. We are delighted to embark on this journey alongside our esteemed international banking partners.”
ING Bank NV, Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd, Natixis, Standard Chartered Bank, Societe Generale and Sumitomo Mitsui Banking Corporation acted as mandated lead arrangers.
ING Bank NV and MUFG Bank Ltd acted as structuring banks whereas ING Bank NV, MUFG Bank Ltd and Sumitomo Mitsui Banking Corporation acted as sustainability co-ordinators.
Allen and Overy and Saraf and Partners were the borrower’s counsels. The lenders’ counsels were Milbank and Cyril Amarchand Mangaldas.
Adani Enterprises Limited on February 23, 2021, announced the establishment of a 50:50 joint venture with EdgeConneX, a leading global data centre operator with 50 facilities in 30 markets around the world.
Under the JV, AdaniConneX will develop and operate data centres across India, the company said.
In addition to full-scale data centres, AdaniConneX will also develop a portfolio of Edge data centres located throughout. These will be designed and planned to easily scale with demand and become full-scale data centre campuses, it added.
