Aligned Data Centres secures USD $2.58 billion facility

Aligned Data Centres has closed a USD $2.58 billion credit facility to support the expansion of its US data centre portfolio.

The revolving facility is backed by insurance companies, pension funds and other institutional investors, and is secured against an initial pool of six assets in Aligned's US portfolio.

The deal provides fresh debt funding as demand for cloud and artificial intelligence infrastructure continues to rise across the US. Operators are racing to add sites and capacity in major hubs as customers seek facilities that can handle denser computing loads and more advanced cooling systems.

The facility has an initial term of three years and includes two one-year extension options. Aligned said the structure was designed for later-stage development assets and for capital treatment aligned with investment-grade requirements for insurance investors.

Funding structure

The financing highlights continued lender appetite for digital infrastructure tied to AI-related demand, particularly where operators can show progress on development assets and a path to bringing capacity online. In this case, the collateral pool contains six assets that are already well advanced.

Aligned plans to use institutional capital markets to broaden its funding base while preserving equity. It also expects to increase the facility's borrowing capacity as its development pipeline expands.

That approach reflects a wider shift in the sector, where data centre groups are blending private credit, bank debt and institutional capital to finance increasingly expensive projects. New AI workloads, especially those involving graphics processing units, have changed the economics of site design, with operators needing more power, more land and more specialised cooling infrastructure.

Aligned has sought to position itself around those requirements, focusing on modular development and liquid-cooled designs aimed at dense AI computing environments. The company serves hyperscale, neocloud and enterprise customers, all of which are adding pressure to secure supply in established and emerging US markets.

Lender appetite

The size of the facility also underlines the growing role of institutional investors in digital infrastructure lending. Insurance and pension capital have increasingly targeted sectors that offer long-duration assets and predictable demand, and data centres have become a notable beneficiary of that trend.

For operators, the attraction is not only scale but flexibility. A revolving development facility can provide access to capital as projects progress, rather than relying solely on one-off financings tied to completed assets. That matters in a market where customers often want commitments on future capacity before construction is finished.

Meghan Baivier, chief financial officer at Aligned Data Centres, described the transaction as an additional source of borrowing capacity for the company.

"This innovative Devco Facility unlocks substantial additional borrowing capacity, serving as a powerful catalyst to drive Aligned's continued growth," Baivier said.

She added that the company is focused on maintaining long-term relationships with lenders as it expands.

"At Aligned, we are deeply focused on cultivating strong partnerships that are enduring in nature. We are incredibly excited to continue our relationship with the institutional lending community as we look to grow in the future. This structure represents a completely new tool in our toolkit, giving us enhanced flexibility as we scale our operations to meet growing customer demand," she said.

Baivier also linked the deal to lender confidence in the business and its growth prospects.

"The strong response from the lending community and our ability to successfully establish this debt facility reflect the fundamental strength of our business and the market's belief in our continued trajectory," said Baivier.

Aligned did not disclose the lending group, but said the facility was supported by institutional capital. The proceeds will help fund the continued build-out of its US portfolio, where operators are competing to deliver new data halls quickly enough to meet demand from cloud groups, AI-focused companies and large enterprises.

As more projects move into later stages of development, access to debt structures that match construction timelines and investor requirements is becoming a more important differentiator. Aligned said the new facility was designed to do that while supporting further growth across its US assets.