DataBank has completed two simultaneous financing transactions totaling USD 1.45 billion, adding a new revolving credit facility to its capital stack while expanding the construction financing for its Red Oak, Texas, data center campus.

The deals announced include a USD 800 million corporate revolving credit facility maturing in 2031 and a USD 650 million upsize of the company's existing Red Oak construction financing, which was originally put in place in April 2026.

A USD 800 Million Revolving Credit Facility Built for Flexibility

The corporate revolving credit facility, which matures in 2031, is intended to support general corporate purposes, including working capital needs, capital expenditures, and liquidity backing for the company's ongoing growth and acquisition strategy.

Citizens Bank, N.A. led the arrangement of the facility, joined by a syndicate of joint lead arrangers that includes Citibank, MUFG Bank Ltd., PNC Bank N.A., TD Securities (USA) LLC, Truist Securities Inc., U.S. Bank N.A., and Wells Fargo Securities. Raul K.

Martynek, Chief Executive Officer of DataBank, said the new revolving credit facility strengthens the company's financial flexibility and reflects confidence from its lending partners in the business model and long-term growth trajectory.

Red Oak Campus Financing Grows to USD 2.65 Billion

The second transaction upsizes DataBank's existing USD 2.0 billion Red Oak construction financing by $650 million, bringing the total financing for that campus to USD 2.65 billion.

The Red Oak campus is located in South Dallas, Texas, and the upsize specifically supports construction of a fourth building on the site, which will add 60 megawatts of incremental IT capacity. The USD 650 million upsize is structured across two components.

The first is USD 400 million in bank financing, arranged by the same institutions that led the April 2026 original facility. The second is USD 250 million raised through a private placement, which the company described as its first-ever private placement transaction.

DataBank said the private placement represents a significant milestone by opening the company to a new institutional investor base and further diversifying its sources of capital for development projects.

MUFG served as Lead Placement Agent on the private placement.

TD Securities (USA) LLC and Barclays acted as Joint Placement Agents, while Citibank, Citizens Bank N.A., and National Bank of Canada served as Co-Placement Agents. Davis Polk & Wardwell LLP provided legal counsel to DataBank on both transactions.

Executive Leadership Frames the Strategic Rationale

Kevin Ooley, President and Chief Financial Officer of DataBank, framed the combined transactions as positioning the company to act decisively on expansion opportunities across hyperscale, cloud, and enterprise customer segments.

Ooley stated that as demand for data center capacity continues to accelerate, having a robust and flexible capital structure is essential, and that the revolving credit facility, combined with the upsized Red Oak financing and the inaugural private placement, collectively achieves that objective.

The private placement component is notable as it marks DataBank's first entry into that particular financing channel.

By accessing institutional investors through a private placement alongside traditional bank financing, the company has broadened the range of capital sources available to fund its development pipeline going forward.

Red Oak Campus in Context

DataBank originally announced the USD 2.0 billion Red Oak construction financing in April 2026 to fund the first three data centers on the campus, which was described at the time as an 180-megawatt, 600,000-square-foot project.

The June 2026 upsize adds a fourth building and an additional 60 megawatts of IT capacity, reflecting an acceleration of the buildout on that campus beyond its initial scope.

The Red Oak campus is part of a broader expansion strategy by DataBank, which currently operates more than 70 data centers across more than 25 markets in the United States, along with 20 interconnection hubs. The company describes its facilities as high-performance computing-ready and offers on-ramps to a range of cloud providers.

Company Profile and Leadership Transition

DataBank positions itself as a provider of enterprise-class edge colocation, interconnection, and managed services, with a focus on serving large enterprises, technology companies, and content providers.

The company has been recognized by Deloitte in 2023 and 2024, and by Inc. 5000 in 2024, as one of the fastest-growing private companies in the United States.