Aligned increases secured credit facility with US$250mn loan
Aligned Energy, a leading data centre provider offering innovative, sustainable, and adaptable colocation and build-to-scale solutions, has announced it has increased the value of its secured credit facility to US$1.25bn after securing a US$250mn sustainability-linked loan. Joint book-runners and leaders for the facility included TD Securities (USA), Goldman Sachs Bank USA, Deutsche Bank AG, New York Branch, Wells Fargo Securities, Citizens Bank, and Nomura Securities International.
The loan aims to allow the company to achieve its sustainability goals which include matching 100% of the company's annual energy consumption to zero-carbon renewable energy by 2024; greater transparency in its sustainability best practices; and worker safety goals with a low Total Recordable Incident Rate. If met, these goals would result in a lower interest rate on the loan, Aligned claims.
Funding for sustainability commitments and expanding its data centre portfolio
Anubhav Raj, Chief Financial Officer of Aligned, says the increase in value of the credit facility will help contribute to expanding the company’s data centre portfolio and funding for sustainability commitments. “Aligned’s credit facility upsizing will provide increased financial capacity and flexibility to support the expansion of our data centre portfolio in step with rising demand and further development of our core sustainability initiatives. Our company’s position is that an investment in digital infrastructure requires an investment in sustainability, which is essential to a positive, lasting impact on our environment as well as long-term value creation”.
Aligned announced this week that it had met and exceeded the core environmental, social, and governance (ESG) objectives for its previous loan secured in September last year, meaning it was able to secure the extra US$250mn capital.
Outlining a concern for the business, Andrew Schaap, Chief Executive Officer of Aligned, said: “Among sophisticated hyperscale and enterprise companies, sound environmental stewardship is now a top-of-mind concern. While no one company or organization can solve the world’s sustainability challenges, Aligned’s adaptive data centre platform is instrumental in reducing environmental impact while lowering the total cost of ownership for customers - a win-win - and it’s gratifying that our relationship banks and investors recognize this by facilitating our ability to respond to continuously increasing demand”.
Microsoft hyperscale plans prompt Lab3 New Zealand launch
Lab3, an Australian cloud migration specialist, has announced it is launching in New Zealand after being prompted by a surge in demand for cloud services and Microsoft’s investment into hyperscale data centres.
The company, which was founded in 2017, has appointed David Boyes as Chief Executive Officer and Rich Anderson as Chief Operating Officer. According to Companies Office records, Boyes and Anderson each have a 10% share in Lab3’s New Zealand business. Commenting on cloud migration, Boyes said: “Across New Zealand, in government and every industry sector, organisations are looking to migrate to the cloud to modernise their technology environments.” He added that the Coronavirus pandemic was fuelling a “ need to tap into the power of data, facilitate remote work and meet public expectations of a virtual world.”
Chris Cook, Group CEO of Lab3 said the business was "first and foremost about client success" which drives the company’s product innovation and motivation to expand into New Zealand. “We look forward to working closely with Microsoft to deliver more for New Zealand clients,” he said.
Microsoft’s New Zealand hyperscale data centre investment plan
Microsoft’s investment into a hyperscale data centre region in New Zealand meant the resulting facilities will aim to provide several organisations with access to the security and scalability of a public cloud without sending data offshore.
Vanessa Sorenson, Managing Director of Microsoft New Zealand, said: “We’ve seen a tremendous acceleration in cloud migration over the past year as organisations have responded to global disruption and conversely, recognised the global opportunities a digital operation brings.
“Our research with IDC shows public cloud technologies are set to create 102,000 local jobs and add [NZ]$30 billion to the New Zealand economy over the next four years, so we’re delighted to welcome a partner of LAB3’s calibre to New Zealand, to help more organisations realise those gains even faster," she added.
Lab3’s clients include several fintech organisations, a global software vendor, Australian federal and state government agencies, and insurance and banking corporations. The company employs over 200 staff and has three advanced specialisations across migrations, Azure virtual desktop, and security.