Deals & Cases

Homburger advised AtlasEdge on milestone sustainability-linked EUR 725 m loan facilities

Homburger acted as Swiss counsel to AtlasEdge, a leading pan-European Edge data centre provider, on a scalable EUR 725 m loan financing. The financing was underwritten by mandated lead arranger ING Bank, as well as ABN Amro, Crédit Agricole CIB, The Bank of Nova Scotia, National Westminster Bank Plc, Banco Santander and UniCredit Bank AG.

AtlasEdge is a leading European Edge data centre platform with operations across 12 countries, formed through a joint investment by Liberty Global, a world leader in converged broadband, video and mobile communications and an active investor in cutting-edge infrastructure, content, and technology ventures, and DigitalBridge, a leading global investment firm dedicated to digital infrastructure.

The innovative financing package, which is a distinctive blend of standard digital infrastructure and LBO cash flow-based financing terms, consists of EUR 525 m in committed debt facilities and a further EUR 200 m of uncommitted accordion. The accordion feature enables AtlasEdge to quickly target capital toward customer-led projects and expand the financing based on future demand.

Having already underpinned the company’s recent acquisition of Datacenter One, Germany’s leading independent data centre provider, the new financing provides AtlasEdge with considerable firepower to execute further strategic M&A and build new efficient and sustainable sites throughout Europe’s key markets.

The financing also includes sustainability-linked targets focussed on efficiency and renewable energy usage. This aligns AtlasEdge’s mission to build a truly sustainable digital society.

Homburger advised AtlasEdge with regards to all Swiss legal aspects of the financing transaction.

The Homburger team was led by partner Daniel Haeberli and included associates Daniel Junginger, Simone Gloor, Fabrice Eckert and Joey Weber (all Financing) as well as partner Stefan Oesterhelt (Tax).