{"id":873220,"date":"2026-06-17T09:33:41","date_gmt":"2026-06-17T09:33:41","guid":{"rendered":"https:\/\/www.europesays.com\/us\/873220\/"},"modified":"2026-06-17T09:33:41","modified_gmt":"2026-06-17T09:33:41","slug":"dallas-based-databank-closes-1-45b-financing-supports-data-center-project-in-red-oak-dallas-innovates","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/873220\/","title":{"rendered":"Dallas-Based DataBank Closes $1.45B Financing, Supports Data Center Project in\u00a0Red\u00a0Oak \u00bb Dallas Innovates"},"content":{"rendered":"

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Rendering of DataBank\u2019s DFW10, the second of eight two-story data centers in DataBank’s campus in Red Oak, south of Dallas. [Image: DataBank]<\/p>\n

Dallas-based DataBank, a data center company providing enterprise-class edge colocation, interconnection, and managed services, has closed two new financing transactions totaling $1.45 billion: an $800 million corporate revolving credit facility and a $650 million upsize of its existing construction financing for the company\u2019s data center campus in Red Oak, south of Dallas.<\/strong><\/p>\n

For the credit facility, DataBank closed $800 million in revolving credit arranged by a syndicate of banks led by Citizens Bank, N.A. along with Joint Lead Arrangers Citibank, MUFG Bank, Ltd., PNC Bank, N.A., TD Securities (USA), Truist Securities, U.S. Bank, N.A., and Wells Fargo Securities. The facility matures in 2031. DataBank said proceeds will be used for general corporate purposes, including working capital needs, capital expenditures, and liquidity support for the company\u2019s continued growth and acquisition strategy.<\/p>\n

Red Oak data center campus financing rises to $2.65B<\/p>\n

For DataBank\u2019s data center campus in Red Oak, the company also closed a $650 million upsize of its existing $2 billion construction financing for the campus. This brings the company\u2019s total Red Oak campus financing to $2.65 billion. The upsize will support construction of the fourth building on the campus, adding 60 megawatts of incremental IT capacity.<\/p>\n

The news follows DataBank\u2019s announcement in April that it had secured a $2 billion loan for construction of the first three of eight planned data centers<\/a> at its campus in Red Oak.\u00a0<\/p>\n

As with the loan in April, the new upsize featured Tokyo-based MUFG Bank, Ltd. as the administrative agent, coordinating lead arranger, and sole bookrunner, DataBank said, with \u201ca strong group\u201d of leading digital infrastructure banks and institutional lenders supported the transaction as well.<\/p>\n

The new upasize consists of $400 million in bank financing and $250 million of notes placed in a private placement\u2014marking DataBank\u2019s first private placement transaction.<\/p>\n

DataBank said the private placement marks \u201ca significant milestone\u201d for the company, opening it to a new institutional investor base and further diversifying its sources of capital for development projects.\u00a0 MUFG served as Lead Placement Agent, with TD Securities (USA) LLC and Barclays as Joint Placement Agents, and Citibank, Citizens Bank, N.A., and National Bank of Canada as Co-Placement Agents.<\/p>\n

In a statement, DataBank CEO Raul K. Martynek said the new revolving credit facility \u201cstrengthens our financial flexibility and reflects the confidence our lending partners have in DataBank\u2019s business model and long-term growth trajectory.\u201d<\/p>\n

\u00a0Kevin Ooley, DataBank\u2019s president and CFO, cited strong demand as a need to ramp up financing.<\/p>\n

\u201cAs demand for data center capacity continues to accelerate, having a robust and flexible capital structure is essential,\u201d Ooley said. \u201cThis revolver, combined with the upsized Red Oak financing and our inaugural private placement, positions DataBank to move decisively as we expand our platform and deepen our relationships with hyperscale, cloud, and enterprise customers.\u201d<\/p>\n

Report: Oracle has its eyes on DataBank\u2019s Red Oak campus<\/p>\n

According to a Business Insider\u00a0report<\/a>, Austin-based Oracle will be the tenant for all three of the DataBank data centers in Red Oak, as well as the fourth one planned at the campus. The report cited a list of data center projects that qualify for state tax exemptions published by the Texas state comptroller\u2019s office.<\/p>\n

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