Data Center company eStruxture, owned by Fengate, reveals C$1.35 billion financing deal and introduces Canada's first asset-backed securities in the data center sector.
eStruxture Secures C$1.35 Billion Financing for Canadian Data Center Expansion
eStruxture Data Centers, Canada's largest data-center provider, has secured a significant financing package worth C$1.35 billion to expand its data centers across the country. The financing includes innovative funding methods, making it a pioneering step in leveraging asset-backed securities (ABS) for digital infrastructure development.
The financing package consists of C$750 million in ABS, marking the first rated, asset-only securitization in the Canadian data center sector. This groundbreaking move was issued under eStruxture's Green Finance Framework, making it an innovative financing landmark for Canadian digital infrastructure. The ABS notes were underwritten by Scotiabank and National Bank Financial, with Scotiabank acting as Joint Structuring Advisor and Joint Active Bookrunning Manager for the securitized notes.
In addition to the ABS, eStruxture also secured a DevCo Revolving Credit Facility of up to C$600 million of bank financing. This facility was provided by banks including Scotiabank and National Bank.
The financing is backed by Fengate Asset Management, which owns eStruxture as a portfolio company, and institutional investors including LiUNA, Pantheon, and Partners Group. National Bank acted as Passive Bookrunner for the securitized notes.
According to Fengate's Managing Partner, George Theodoropoulos, the deal reflects confidence in eStruxture's credit quality and growth potential. eStruxture's CEO, Todd Coleman, called it a "watershed moment" for Canada's digital infrastructure sector, emphasizing the critical role of strategic, low-cost capital to support large-scale expansion fueled by the surge in AI and cloud data.
eStruxture's 1,000 customers include carriers, cloud providers, AI, media content, financial services, and enterprise customers. The financing will fund eStruxture's expansion as demand for data storage continues to soar.
eStruxture offers colocation, bandwidth, security, and support services to customers across Canada in its carrier and cloud-neutral facilities. The company is headquartered in Montreal, with locations in Toronto, Calgary, and Vancouver.
Fengate has been investing in infrastructure since 2006, with a focus on mid-market assets in the transportation, social, energy transition, and digital sectors. As one of North America's most active infrastructure investors and developers, Fengate manages over $10 billion of capital commitments.
For media inquiries, please contact Maddison Sharples, Vice President, Communications and Marketing at Fengate Asset Management, at 1 416-254-3326 or [email protected].
This financing package represents a significant milestone in the growth and development of Canada's digital infrastructure sector, signaling growing institutional confidence in the sector.
- The groundbreaking financing, valued at C$1.35 billion, was secured by eStruxture Data Centers, Canada's largest data-center provider, from banks such as Scotiabank and National Bank, and is backed by Fengate Asset Management and institutional investors.
- The financing package consists of C$750 million in asset-backed securities (ABS), marking the first rated, asset-only securitization in the Canadian data center sector, under eStruxture's Green Finance Framework.
- With this financing, eStruxture, whose customers include carriers, cloud providers, AI, media content, financial services, and enterprise customers, will fund its expansion as demand for data storage in Canada continues to increase.
