IFM in Talks to Raise $2 Billion Debt for Green Group Deal
(Bloomberg) — IFM Investors Pty is in talks to raise about 1.6 billion Swiss francs ($2 billion) in debt to back its acquisition of Swiss data center operator Green Group AG, people with knowledge of the matter said.
The Australian infrastructure investor has lined up six banks for the financing, which will help fund the acquisition as well as support capital expenditures after the acquisition, the people said. It’s been working with Nomura Holdings Inc. to arrange the funding, the people said, asking not to be identified as the information is private.
The banks will then syndicate the loans to over a dozen other lenders, the people added.
IFM in July agreed to buy Green Group from InfraVia Capital Partners for an undisclosed sum. Bloomberg News reported earlier that the Swiss data center operator could be valued at about €1 billion ($1.2 billion) in the deal.
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Deliberations are ongoing and details of the proposed financing could change, the people said. Representatives for IFM and Nomura declined to comment.
Investment in data centers is soaring across Europe as the continent tries to catch up with the US in the business of providing computing and data storage to artificial intelligence providers such as Meta Platforms Inc. and Microsoft Corp.
(Updates with IFM response in fifth paragraph.)
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