Ares arranges $2.4 billion debt facility to Vantage Data Centers

Ares Management Corporation announced that certain of its funds have arranged a $2.4 billion debt facility to Vantage Data Centers. Ares holds approximately $1.6 billion of the commitment and funded approximately $330 million at closing. The new debt facility will be used to refinance existing indebtedness and support the development, construction and operation of data centers across Vantage's North America portfolio. Vantage operates one of the largest and most diversified data center platforms in North America with 17 campuses reflecting a combined 4 GW+ of IT load capacity, supporting primarily cloud as well as AI technologies across key markets. Vantage's diversified and stabilized portfolio of assets is 100 percent leased under long-term agreements with leading hyperscale customers. Approximately 99 percent of Vantage's customers in North America hold an investment grade rating. Brent Canada, partner in Ares Infrastructure Debt, said Ares is proud to build on its existing relationship with Vantage and support its projects across key markets in North America. With the demand for cloud and AI technologies and the corresponding need for flexible, scalable capital, Ares is positioned as an experienced lender to provide financing solutions for quality digital infrastructure, he said. Rich Cosgray, senior vice president of global capital markets at Vantage Data Centers, said the company appreciates Ares support as it continues to reinforce its leadership in the development of global, large-scale digital infrastructure. Ares brings scaled capital, deep sector expertise and confidence in the strategic vision, he said.