Bulk secures €410m for N01 data center expansion

Bulk Infrastructure has successfully closed a €410 million senior secured loan, earmarked for the continued expansion of its N01 Data Center Campus in Vennesla municipality. The financing is secured against selected assets within the initial phase of the N01 site, with proceeds allocated to further site development and the refinancing of existing debt. This strategic move aims to meet increasing customer demand for AI training and inference.

The N01 Data Center Campus is highlighted as one of Europe's largest and most scalable data centers, benefiting from access to renewable energy and robust international connectivity via Bulk's subsea and terrestrial fiber networks. chief executive Jon Gravråk emphasized this financing as a crucial milestone in the company's industrial growth journey as a leading Nordic digital infrastructure provider.

chief financial officer Gaute Krekling noted strong interest from both Nordic and international lenders, underscoring the solid fundamentals of both Bulk and the N01 Data Center Campus. ABN Amro Bank, Citibank Europe, and Nordea Bank acted as Mandated Lead Arrangers, with Eastdil Secured advising Bulk Infrastructure.