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Latham Advises Natixis on Green Loan Financing To Expand Verne Global

June 16, 2023
The transaction enables expansion of the renewable energy powered data center.

Latham & Watkins has advised Natixis in connection with a US$100 million senior secured green term loan financing to Verne Global hf. (Verne Global) to repay a bridge facility, and to fund growth capital expenditure to expand the capacity of its data center campus in Iceland from 40MW to over 96MW. The facility also has an uncommitted US$50 million accordion.

Verne Global is a leading data center platform in Iceland wholly powered by renewable energy. 

Verne Global’s year-round, free air-cooling capabilities make it one of the most energy efficient data centers in the world, in line with United Nation’s Sustainability Development Goal 9 UN SDG 9. Verne Global is wholly owned by Digital 9 Infrastructure plc (DGI 9), an investment company that invests in digital infrastructure and is listed on the FTSE 250. DGI 9 is managed by Triple Point Investment Management.

The Latham team was led by London finance partner Tom Bartlett, with associates Sam Burleton, Alexander Leighton, and Kimberley Elizabeth Barker. Advice on tax matters was provided by London partner Karl Mah and associate Lina Le Roux; and on hedging matters by associates Delyth Hughes and Nick Surry.