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The bond issue generated strong demand from institutional investors, underscoring the market's confidence in EcoDataCenter’s business plan.
"AI is a dynamic investment area with enormous potential to drive growth and productivity. Scaling AI requires capital. This is an important milestone for us, on our journey to become the leading European player in AI-infrastructure," says Peter Michelson, CEO of EcoDataCenter.
Europe demands ambitious investments in AI infrastructure to maintain global competitiveness and drive innovation. EcoDataCenter has quickly established itself as a leader in this space, with several recent announcements supporting its expansion. In early September, it was announced that EcoDataCenter would partner with AI-company CoreWeave to build one of Europe's largest AI clusters in Falun. Two weeks later, EcoDataCenter purchased a 20-hectare industrial site in Borlänge with an initial capacity of 240 MW, to establish one of Europe's largest data centers.
“The demand for data centers that can combine the latest technology with high energy efficiency and with a low climate footprint is strong and constantly increasing. We are very well positioned to capitalize on the growth opportunities in the sector." states Peter Michelson, CEO of EcoDataCenter.
EcoDataCenter opened its first data center in Falun, Sweden in 2019 and also operates facilities in Stockholm and Piteå. Thanks to a combination of technological leadership and unique sustainability solutions, EcoDataCenter has gained the trust of major customers such as BMW, DeepL, and CoreWeave.
The senior unsecured bonds are issued by EcoDataCenter’s holding company - EcoDC Holding AB (publ) – under a framework of SEK 2 billion, with a tenor of 3 years and a floating interest rate of STIBOR 3 months plus 4.75 per cent per annum. EcoDataCenter intends to apply for listing of the bonds.
ABG Sundal Collier AB acted as sole arranger in connection to the issuance of the bonds. Roschier Advokatbyrå AB acted as legal counsel.
