NEW
YORK, Dec. 12, 2023 /PRNewswire/ -- First
Citizens Bank today announced that its Technology, Media and
Telecommunications Finance business served as lead arranger of
$345 million in financing on behalf
of DataBank for construction of a new hyperscale data center in the
Atlanta, Georgia, area.
A leading provider of enterprise-class edge colocation,
interconnection, and managed cloud services, DataBank is expanding
its data center capacity to meet the burgeoning demand for
artificial intelligence applications.
DataBank's new ATL4 facility, located 20 minutes outside of
downtown Atlanta, is a
single-tenant, fully leased data center that will be supported with
renewable power. The facility is expected to open in Q3 2024.
"This new financing will allow us to continue bringing important
capacity to market to meet extremely high demand for data center
space and power," said Kevin Ooley,
DataBank's President & CFO. "We appreciated the agility and
expertise of the First Citizens Bank team in making this financing
a reality."
"Databank is known industry-wide for its leadership in providing
top-quality data centers to meet its clients' needs," said
Thomas Westdyk, group head for First
Citizens' Technology, Media and Telecommunications Finance
business.
"It was a pleasure to leverage our structuring expertise to
support DataBank with the financing necessary to meet their
customer-driven capital requirements," said Jeremy Wolfe, a managing director who led the
First Citizens banking team on the transaction. "We look forward to
continuing to work closely with them on future projects."
First Citizens' Technology, Media and
Telecommunications Finance team provides cash flow and
asset based senior debt for communications and technology companies
in the middle market throughout the
United States.
About First Citizens Bank
First Citizens Bank helps
personal, business, commercial and wealth clients build financial
strength that lasts. Headquartered in Raleigh, N.C., and now celebrating the 125th
anniversary of its founding, First Citizens has built a unique
legacy of strength, stability and long-term thinking that has
spanned generations. First Citizens offers an array of general
banking services including a network of more than 500 branches and
offices in 30 states; commercial banking expertise delivering
best-in-class lending, leasing and other financial services coast
to coast; innovation banking serving businesses at every stage; and
a nationwide direct bank. Parent company First Citizens BancShares,
Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with
more than $200 billion in assets.
Discover more at firstcitizens.com.
MEDIA RELATIONS:
John M.
Moran
212-461-5507
John.moran2@firstcitizens.com
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SOURCE First Citizens Bank