ASP Data Center raises NOK 1.6bn in bond capital to support growth

Asp Data Center has secured additional funding for its ambitious growth plans through the successful raising of NOK 1.6 billon in bond capital. There was strong interest in the market for the bond placing.

The net proceeds from the bond issue will primarily be used to refinance the outstanding to fund investments in the K11 data center in Stavanger, and to refinance the existing NOK 685 million bond.

“We have a contracted revenue backlog approaching NOK 2 billion, including the recently signed agreement with a leading international company for the delivery of 6 MW of IT capacity at the K11 data center. It is great to see the strong interest in the bond issue, reflecting the attractivity of our pipeline and the business we are building. Investors recognize that we are an attractive partner for international customers, supported by our solid project history, reliable operational track record, and strategically located sites with secured access to power,” said CEO of As Data Center Ole Fredrik Bergseth, and continues:

“Demand for high-quality,energy-efficient data center capacity in the Nordics continues to grow, driven by international customers looking for scalable, sustainable sites. This financing round gives us the financial footing to keep expanding K11 and the wider portfolio.”

Asp Data Center’s portfolio includes two sites in Western Norway with a minimum of 43 MW of available and planned capacity, as well as long-term expansion potential of approximately 100 MW. In addition, the portfolio includes a large and attractive site in Finland, with 30 MW planned in Phase 1 and the potential to exceed 400 MW through further development.

Arctic Securities and DNB Carnegie acted as Global Coordinators and Joint Bookrunners, while Clarksons Securities acted as Joint Bookrunner.

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Photo: Henrik Moksnes, Fabel Media

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