Norwegian data center operator Bulk Infrastructure has successfully closed a €410 million senior secured loan to support the continued development of its N01 Data Center Campus in Norway.
The N01 Data Center Campus is located in Vennesla municipality outside Kristiansand. It has direct and redundant connections to multiple hydropower stations supplying 100% renewable energy, and three subsea cables and four terrestrial routes terminate at the campus.
“Bulk continues our industrial growth journey as a leading Nordic digital infrastructure company. This financing marks a significant milestone for our robust platform to meet fast growing customer demand for AI training and inference,” says Jon Gravråk, CEO Bulk Infrastructure.
The new financing is secured against selected assets within the first phase of the N01 site and the proceeds will be used for continued expansion at the site and refinancing of existing debt.
“The transaction attracted strong interest from both Nordic and international lenders throughout the process. The outcome reflects the solid fundamentals of both Bulk and the N01 Data Center Campus and the trust we have built across financial institutions,” says Gaute Krekling, CFO of Bulk Infrastructure.
ABN Amro Bank N.V., Citibank Europe plc, and Nordea Bank Abp acted as Mandated Lead Arrangers in the transaction. Eastdil Secured served as advisor to Bulk Infrastructure, while White & Case LLP and Schjødt served as legal counsels to Bulk Infrastructure.
