Clifford Chance

Clifford Chance advises senior lenders on EdgeConneX additional US$1.9 billion sustainability-linked financing to support EMEA digital infrastructure expansion

Global law firm Clifford Chance has advised the senior lenders on the additional US$1.9 billion sustainability-linked financing secured by EdgeConneX to support its EMEA digital infrastructure expansion. EdgeConneX, the EQT-owned edge-network data center developer, is a pioneer in global Build-to-Suit and Build-to-Density Solutions, currently operating over 20 data centers in Europe.

This deal upsized EdgeConneX‘s groundbreaking US$2.9 billion in sustainability-linked financing, initially issued in October 2022, on which Clifford Chance has also advised. The transaction was marked by significant oversubscription from existing and new lenders, while cementing EdgeConneX‘s commitment to the company’s sustainability goals. This transaction elevated the company’s total green investments to over US$7 billion over the last two years to support its global digital infrastructure growth.

The financing consolidated EdgeConneX extensive portfolio across EMEA, transitioning it from stand-alone project-based funding to a more robust structured corporate debt package. A key feature of this financing deal is the introduction of sustainability-linked margin adjustments. This feature directly ties the interest rate to EdgeConneX achievement of predetermined sustainability objectives, symbolizing the company’s deep commitment to achieving carbon neutrality, eliminating its waste and water footprint, and powering its entire data center platform with renewable energy sources by 2030. Read more about the financing here.

This landmark transaction was recognized, among others, as European Digital Infrastructure Data Centre Deal of the Year by IJGlobal Awards and as Global Digital Deal of the Year by Project Finance International (PFI) Awards, exemplifying the strength of Clifford Chance's market-leading energy and infrastructure practice and sector expertise in digital infrastructure.

The Clifford Chance core team consisted of Matt Dunn, Mike Niekoop, Hein Tonnaer, Carlijn Tenge, Maurice Oesterhelt and Lindy Mguni. The wider cross-border team consisted of Genevieve Morgan (Global Financial Markets) in London, Lotte de Bruin and Chris Verheesen (Energy & Infrastructure), Charlotte Horsten and Esmée Oldenkamp (Notarial), Nolan Groenland and Stern Flik (Tax) in Amsterdam, Wim Aerts and Isaure Borreman (Global Financial Markets) in Brussels and Pawl Puacz, Michal Jadwisiak and Joanna Korycińska (Global Financial Markets) in Warsaw.