Swiss data centre operator Green has signed a refinancing agreement underwritten by Credit Agricole and ING Bank to free up around €490 million (480 million Swiss francs) to invest in its business.
Also participating in the refinancing syndication deal is Credit Suisse and Intesa Sanpaolo Bank Luxembourg, which joined "as original lenders".
The redeployment of capital is expected to allow Green to expand its data centre capacity, driven by upgrades at two existing campuses as well as building systems in new Swiss locations.
Green is currently owned by InfraVia Capital Partners, which advised the company on the refinancing agreement. The current data centres are dispersed around Zurich, with a total of four locations, meaning data can be stored across two or more of the server locations synchronously to safeguard customer data, a technique known as geo-redundant data storage.
Pauline Fiastre, financing director at InfraVia, said: "We are very pleased to have supported Green with this refinancing which will enable the company to pursue its growth trajectory and capture demand from customers looking for capacity in Switzerland. We secured a CHF 480m financing package executed on competitive terms in particular in the current macro
Roger Süess, CEO of Green, added: "With the acceleration of the growth program, Green is responding to the high demand from hyperscale companies who put their trust in Green when it comes to geo-redundant solutions.
"Green provides space, networks and sustainable growth to the benefit of hyperscale companies, enterprises and Switzerland as a whole."