VIRTUS Data Centres has lined up £2.45 billion ($3.24 billion) in committed bank financing to underpin expansion of its data centre footprint across the UK and continental Europe. The operator called the deal one of the largest bank financings for UK data centres to date, and it will provide a sustained funding framework as VIRTUS builds new capacity in Buckinghamshire and Slough while pursuing wider European growth.
A consortium of 13 banks structured the financing, with BNP Paribas, Crédit Agricole CIB, Societe Generale, and Standard Chartered Bank acting as Coordinators, Senior Mandated Lead Arrangers, and Bookrunners.
Green capex makes up nearly half the package
Within the overall facility sits a £1.2 billion ($1.5 billion) green capex tranche available through term and revolving tranches. This structure gives VIRTUS the ability to draw funds as its development programme advances. The green component represents almost half of the total financing, creating a substantial dedicated pool for qualifying expenditure as the operator adds capacity.
VIRTUS has flagged its 78MW AI-ready Saunderton campus in Buckinghamshire, future investment in LONDON19 in Slough, and ongoing European expansion as areas the financing framework will support. The company has not disclosed how much of the £2.45 billion will go to individual projects or which developments will tap the green capex facility.
This financing marks an important milestone for VIRTUS. It reflects the strength and stability of our existing portfolio, our track record of delivery and the opportunities ahead
Adam Eaton, Chief Executive Officer at VIRTUS
Eaton added that the flexibility embedded in the financing structure would enable VIRTUS to keep investing in data centre infrastructure and pursue its European growth strategy.
Backing an existing expansion pipeline
The financing framework arrives as VIRTUS presses ahead with developments across its UK sites. The operator recently unveiled LONDON19, a new 32.5MW AI-ready data centre expanding its Slough campus. It is also constructing a 78MW campus in Saunderton, Buckinghamshire, while its European footprint includes projects beyond the UK.
VIRTUS operates under the umbrella of ST Telemedia Global Data Centres, a Singapore-based international data centre group. Macquarie Asset Management holds a major stake, having acquired a 40% minority stake through Macquarie European Infrastructure Fund 7 in 2022. The latest financing from its 13-bank consortium adds another capital source as VIRTUS develops its UK and continental European pipeline.
Simmons & Simmons advised VIRTUS on the transaction, while Clifford Chance represented the banking consortium.
