Rowan Digital Infrastructure Completes $945 Million Corporate Financing
Simpson Thacher represented Rowan Digital Infrastructure (“Rowan”), a developer of sustainable hyperscale data center campuses in the United States, in connection with its inaugural $945 million syndicated revolving credit facility and letter of credit facility.
The facilities will provide flexible capital to support the early stages of development across Rowan’s pipeline of projects, including letter of credit capacity to support obligations such as utility interconnection deposits and commitments to equipment vendors.
Rowan develops sustainable data center campuses for hyperscale customers, offering build-to-suit solutions that enable rapid and cost-effective scaling. Founded in November 2020, Rowan is supported by strong capital partnerships and a team of industry veterans. Rowan is backed by Quinbrook, a leading investor in the energy transition and Blackstone, the world’s largest alternative asset manager. Rowan is actively developing multiple 300 MW–1+ GW campuses across the U.S. to meet the next-generation capacity needs of hyperscale operators in a dynamic market.
The Simpson Thacher team included Brian Gluck, Patrick Wolff, Avi Tennenberg and Mark Geraci (Credit); and Nancy Mehlman and Ruoxi Zhang (Tax).