AdaniConneX Secures $1.44 Billion in Sustainability-Linked Financing
AdaniConneX, a joint venture between Adani Enterprises and EdgeConneX, has secured India's largest sustainability-linked financing package, raising up to $1.44 billion. The initial commitment stands at $875 million, with the option to extend it to $1.44 billion.
This financing brings AdaniConneX's construction financing pool to $1.65 billion, building on the $213 million facility secured in June 2023. The upcoming data center facilities will utilize state-of-the-art technologies and renewable energy solutions to minimize their environmental impact while optimizing operational efficiency.
ING Bank NV, Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd, Natixis, Standard Chartered Bank, Societe Generale, and Sumitomo Mitsui Banking Corporation.
"This successful exercise demonstrates our collective commitment to establishing sustainable and robust digital infrastructure, setting new industry benchmarks," said Jeyakumar Janakaraj, CEO of AdaniConneX. "This financing aligns with our capital management plan and allows us to deliver data center solutions rooted in sustainability and environmental stewardship."
The lenders acted as mandated lead arrangers, with ING Bank NV and MUFG Bank Ltd serving as structuring banks and sustainability coordinators alongside Sumitomo Mitsui Banking Corporation. Allen and Overy and Saraf and Partners represented the borrower, while Milbank and Cyril Amarchand Mangaldas represented the lenders.
Adani Enterprises and EdgeConneX established the 50:50 joint venture in February 2021. AdaniConneX will develop and operate data centers across India, including full-scale and Edge data centers designed to scale with demand and potentially become full-scale campuses.