{"id":9016,"date":"2024-05-07T11:21:45","date_gmt":"2024-05-07T05:51:45","guid":{"rendered":"https:\/\/enterprisenews.lk\/?p=9016"},"modified":"2024-05-07T11:21:45","modified_gmt":"2024-05-07T05:51:45","slug":"adaniconnex-sets-benchmark-with-construction-financing-framework-of-usd-1-44-billion","status":"publish","type":"post","link":"https:\/\/enterprisenews.lk\/?p=9016","title":{"rendered":"AdaniConneX sets benchmark with construction financing framework of USD 1.44 billion"},"content":{"rendered":"\n

AdaniConneX<\/a>, a 50:50 Joint Venture (JV) between Adani Enterprises and EdgeConneX, has established one of South Asia\u2019s largest sustainability linked financing to raise up to USD 1.44 billion. The financing has an initial commitment of USD 875 million, with an accordion feature to extend commitment up to USD 1.44 billion. The transaction elevates AdaniConneX\u2019s construction financing pool to USD 1.65 billion, building on the maiden construction facility of USD 213 million executed in June 2023.<\/p>\n\n\n

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The upcoming data center facilities will employ state-of-the-art technologies and renewable energy solutions to minimise the ecological footprint while optimising operational efficiency. The sustainability-linked financing reinforces AdaniConneX\u2019s commitment towards driving a safety-first culture, delivering world-class Power Usage Effectiveness (PUE) by adopting global best practices, and leveraging renewable energy resources.<\/p>\n\n\n\n

A key feature of the facility is the innovative solution of a syndicated guarantee-backed assurance programme in sync with the projects\u2019 procurement strategy. Definitive agreements have been executed with eight international lenders \u2013 ING Bank N.V., Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered Bank, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale and Sumitomo Mitsui Banking Corporation.<\/a><\/p>\n\n\n\n

Access to a wide pool of liquidity strengthens the company\u2019s strategy to fast-track the implementation of portfolio assets in sync with accelerating demand. This transformative approach towards financing is a significant step towards building sustainable digital infrastructure that will fuel economic progress and accelerate digital growth.<\/p>\n\n\n\n

\u201cThis successful exercise is a testament to the collective resolve of the parties to meet the challenges of establishing sustainable and robust digital infrastructure, thereby pushing norms and setting new industry benchmarks,\u201d said Jeyakumar Janakaraj, CEO of AdaniConneX, \u201cConstruction financing is a core element of the AdaniConneX capital management plan, enabling us to deliver a data center solution firmly rooted in sustainability and environmental stewardship. We are delighted to embark on this journey alongside our esteemed international banking partners.\u201d<\/p>\n\n\n\n

ING Bank N.V., Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered Bank, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale and Sumitomo Mitsui Banking Corporation acted as Mandated Lead Arrangers. ING Bank N.V. and MUFG Bank Ltd acted as Structuring Banks whereas ING Bank N.V., MUFG Bank Ltd and Sumitomo Mitsui Banking Corporation acted as Sustainability Co-ordinators.  <\/p>\n\n\n\n

Allen & Overy and Saraf & Partners were the borrower\u2019s counsels. The lenders\u2019 counsels were Milbank and Cyril Amarchand Mangaldas.<\/p>\n\n\n\n

About AdaniConneX<\/strong><\/p>\n\n\n\n


AdaniConneX, a 50:50 JV between Adani Enterprises and EdgeConneX, was founded with a vision to redefine the data center landscape in India. AdaniConneX envisions to build an environmentally and socially conscious 1GW data center infrastructure platform by leveraging the complementary capacity of the Adani Group, India\u2019s largest infrastructure player, and EdgeConneX, one of the largest private data center operators. In a land of innovators, data center solutions need to be ahead to accelerate ambition.<\/p>\n\n\n\n

For more information, please visit<\/strong> <\/strong>https:\/\/www.adaniconnex.com\/<\/strong><\/a><\/strong><\/p>\n\n\n\n

ENDS<\/strong><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

AdaniConneX, a 50:50 Joint Venture (JV) between Adani Enterprises and EdgeConneX, has established one of South Asia\u2019s largest sustainability linked financing to raise up to USD 1.44 billion. The financing has an initial commitment of USD 875 million, with an […]<\/p>\n","protected":false},"author":1,"featured_media":9017,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/posts\/9016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9016"}],"version-history":[{"count":0,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/posts\/9016\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=\/wp\/v2\/media\/9017"}],"wp:attachment":[{"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterprisenews.lk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}