Latin American-based Scala Data Centers has issued R$2 billion (US$378m) in green debentures, with a maturity of five years.
The DigitalBridge-owned, hyperscaler-focused company said that it is the largest ever such green financing carried out in Brazil and the first of its kind in the country's data center sector.
As it already has sustainable projects and initiatives, Scala was able to issue green debentures instead of Sustainability Linked Bonds (SLBs), which usually are more for future goals.
The money will be used to pay off a previous debenture and finance Scala's expansion plans, which are "driven by sustainable initiatives," the company claimed.
That includes improving energy efficiency, achieving an average annual PUE (Power Usage Effectiveness) of less than 1.40, and building (or acquiring) facilities with renewable energy.
"Our successful green debentures offering reflects the confidence of investors and the market in our clean data center expansion plan," Marcos Peigo, CEO and co-founder of Scala, said. "Scala is guided by an innovative, long-term, and sustainable strategy, which makes green financing especially meaningful to us. These green proceeds will be a new source of capital to fund our data centers, which are currently under construction, and support our bold growth plan for Brazil and Latin America in the coming years."
The 2027 notes were priced at the DI Interbank lending rate plus 3.15 percent.